Streaming Giants Come Together For New Payment & Royalty ThinkTank

The Open Music Initiative, a new program from The Berklee College Of Music’s Institute For Creative Entrepreneurship, aims to create “open source standards and innovation” for improved compensation and royalty payout”.

In conjunction with MIT Labs and just about every major streaming service and record label, the Boston based program will run July 11-29. On board with the program that its co-founder describes as,    “[the]intersection of open source technologies, creator rights and music consumption,” are streaming giants YouTube, Spotify, Soundcloud, Pandora, Netflix, and SiriusXM, as well as Universal, Sony and Warner Records, smaller radio stations, and independent labels.

Over the program, some of the questions that will be addressed are:

  • What new workflows might we design to gather this critical information as music is being created?
  • What emergent fan experiences might result from this data collection?
  • What creator and fan incentives might we create to encourage sharing of this information?

Unfortunately, applications have closed for participation but with such an esteemed cooperative, surely some interesting results will come. Watch this space…

Source: RA