SESAC, the third largest performing rights organization, expands its portfolio with the acquisition of Audiam, the digital reproduction rights collection agency for music publishing, from SOCAN. Canada-based SOCAN, which represents 175,000 songwriters, composers and music publishers, acquired Audiam in 2016 and will retain a 15% stake in the company. Terms of the transaction were not disclosed.
The agreement expands SESAC’s holdings in the digital rights collection agency sector. Founded in 2014 and based in New York City, Audiam “authorizes, monitors, audits, researches, collects and distributes mechanical digital royalties, YouTube and other digital usage royalties for music publishers,” according to press documents. He is perhaps best known for collecting and distributing unpaid royalties from YouTube and other digital services.
SESAC said the purchase would allow it to use Audiam’s “claims, revenue tracking and reporting technology and services, expanding its global service offerings to songwriters, composers and music publishers. “. Jamie Purpora will continue to lead the business.
SESAC already owns The Harry Fox Agency, which dominates the distribution of mechanical royalties to publishers, along with Rumblefish and Mint Digital Services.
Audiam customers include Metallica, the Red Hot Chili Peppers and Jason Mraz, according to Billboard. It represents 1.2 million copyrights and had raised $ 120 million for songwriters and publishers in 2019.
“SESAC acquires Audiam with the intention of supporting the existing management team and acting as a strategic partner and provider of supporting capital,” said SESAC President and CEO John Josephson in the announcement. . “We expect a seamless ownership transition with no disruption to Audiam’s business operations as a result of this transaction. Going forward, we believe this will position SESAC well for further growth of our multi-rights and multi-territory global rights management business and the continued provision of top-notch service to our affiliates, licensees and business partners. . “