Streaming music platform Tidal, founded by music artists and now majority-owned by payment processing company Block Inc., has launched royalty tracking features for artists whose music is represented on the platform. The focus is songwriters, one part of the composer/performer duality which makes music royalties so complex.
“We believe that songwriters are a critical part of the ecosystem and tools built for them are antiqued and complex, so we decided to tackle the problem,” said Agustina Sacerdote, Global Business Lead.
Techcrunch’s coverage of this news observes a few venture-funded startups working to solve the same issue; one is Mogul, backed by Wonder Ventures and United Talent Agency (UTA).
Interestingly — and an indicator of the hornet’s nest in music ownership — artists in the new analytics framework will be able to see songs which might belong to them, and make claims.
Tidal is also offering easy on-ramps to the professional associations (PROs) which offer royalty identification and collecting services.
