15th Oct 2015 08:37
LONDON (Alliance News) - One Media IP Group PLC on Thursday said it has acquired the public performing licence income associated with the MotorCity & High Energy/Northern Soul catalogues for USD30,000.
The deal will allow One Media IP, which monetises intellectual property rights around music and video, to collect income on over 3,000 music performances held in the catalogue.
"Every time a track is played anywhere in the world via a broadcast service or used to enhance a service or product, it triggers a payment which is ultimately reported to the label controlling such rights. I am pleased that we have acquired these rights to our most valuable Motor City and Northern Soul, High Energy Catalogues," said Michael Infante, One Media IP's chief executive and chairman.
Shares in One Media IP were untraded Thursday, having last traded at 7.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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