July 2, 2018

PRS for Music reports that the deal will enable PRS songwriter, composer and publisher members to capture their song and composition data, including agreement of shares, and register their works with PRS at the point of creation.

PRS says that the Auddly platform is designed to enable earlier registration of more accurate and authoritative data, and in turn help PRS to improve the speed and accuracy of royalty distributions made to its members.

The deal will also inspire collaboration between music creators.  Described as a “digital handshake”, it will enable creators to communicate directly among themselves to propose and agree share splits via the tool, cutting down burdensome and time-consuming admin for music publishers, while capturing data in a consistent, standardised, and transparent way for all interested parties. This will also help to prevent inaccuracies occurring as data travels along the value chain.

PRS says that the new tool will also make it possible for industry identifying codes, such as ISWC and ISRC, to be assigned at the same time, allowing both sets of data to travel along the value chain together, resolving one of the biggest chasms in music industry workflow today.  To read PRS’s press release in full, click here.