Musicnotes Surpasses $100 Million in Payments to Artists and Songwriters
Wednesday, July 8, 2020
MADISON, Wis., June 30, 2020 /PRNewswire/ -- Musicnotes, Inc. (https://www.musicnotes.com/) the worldwide leader in digital sheet music and a staunch advocate for musicians' intellectual property rights, announces a significant milestone: $100 million in royalties paid out to music publishers and songwriters.
A pioneer in the digital sheet music e-retail space with 8 million customers and 50m sheet music downloads to date, Musicnotes has a market-leading database that allows for efficient payment of royalties to music publishers worldwide, with an escrow account for accrued but unpaid royalties well under 1%. The $100 million figure includes compensation related to all sheet music downloads over the past two decades, as well as royalties related to the company's Songsterr (www.Songsterr.com) guitar tab business.
"We're extremely proud to reach this $100 million milestone," said Kathy Marsh, CEO and Co-Founder of Musicnotes. "Rewarding and protecting music creators is part of our DNA at Musicnotes. Our royalty rates are significantly higher than other digital music services. And thanks to our market-leading database, and e-commerce technology, we can identify and pay songwriters and music publishers worldwide."
Musicnotes offers a unique comparison, in the U.S: typical royalties for millions of listens on one streaming platform might yield a songwriter just a few hundred dollars. Five hundred sheet music downloads via Musicnotes can generate upwards of $1,000 in royalties for a songwriter.
"Revenue from sheet music, tablature and lyrics is becoming increasingly important to songwriters and music publishers," said National Music Publishers' Association President and CEO David Israelite. "There is tremendous value in songs, and it is important these rights are protected and monetized to their full extent."
To learn more, go online at http://www.musicnotes.com/. Or follow them on social media: Facebook, Twitter, YouTube, Instagram, Pinterest.
About Musicnotes.com
As the leader in digital sheet music, Musicnotes offers the best selection of 100% officially licensed and legal arrangements for nearly any instrument, genre and skill level. Founded in 1998, Musicnotes has transformed the way people purchase and play sheet music by fostering strong partnerships with music publishers, creating an ever-expanding catalogue of over 300,000 arrangements, and pioneering new technologies, like their top-rated sheet music apps for iOS and Android devices. Musicnotes has sold 50 million downloads to eight million customers since its inception. For more information, visit www.Musicnotes.com. Musicnotes also operates a leading guitar tablature site at www.Songsterr.com.
Contact:
Duncan Hearn, Director of Marketing & Design
(608) 662-1680
242211@email4pr.com
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SOURCE Musicnotes
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