Pro Music Rights, LLC, a Music Performing Rights Organization Located in Naples, Florida, Announced Today the First-ever Standardized Public Performance Rights License
NAPLES, Fla.--(BUSINESS WIRE)--Nov 13, 2019--
What Is A Stream Worth?
What is a stream worth? In other words, how much do I get paid for a single stream? This is a question that I, Jake P. Noch, have heard many times over the years while working in the music industry. First as an artist and then as an owner of multiple record labels and music publishing companies. Now as the Chairman/CEO of Pro Music Rights LLC, I can answer the question. A stream under Pro Music Rights, or any usage type for that matter, is worth $0.01 USD. Today, November 13, 2019, Pro Music Rights is announcing the first-ever standardized Public Performance Rights license. This license will have a usage rate of $0.01 USD for every usage to be paid fractionally based on the percentage controlled by any musical composition under any of Pro Music Rights’ clients’ works registered with Pro Music Rights and will go directly to the rights holders of the musical composition without Pro Music Rights deducting an administrative percentage or utilizing a royalty pool model. Instead, Pro Music Rights, as a for-profit Public Performance Rights Organization, will charge a flat monthly licensing fee of $2,500 USD in addition to the Usage Fees that are paid 100% to rights holders. Every Pro Music Rights blanket license agreement will require the use of a Pro Music Rights Music Tracking system that will be both hardware & software based to ensure accurate royalty Collections, Payment, & Invoicing.
About Pro Music Rights, LLC. ( ProMusicRights.com )
Pro Music Rights is the 5th ever formed public performance rights organization (PRO) in the United States, that controls an estimated market share of 7.4% in the USA and that represents over 2,000,000 works that feature such notable acts as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, OG Maco, the late Nipsey Hussle, and many others. Pro Music Rights pays 100% of all public performance royalties directly to the performers, songwriters, publishers, and legally entitled rights holders who have joined Pro Music Rights on a monthly basis. Jake P. Noch founded Pro Music Rights in January of 2018 and serves as the company’s CEO after experiencing firsthand the systematic issues that plague the field of public performance rights, and hinder the livelihood of performers, songwriters, publishers, and the creative community as a whole. For more information, please visit promusicrights.com.
Certain information set forth in this presentation contains “forward-looking information”, including “future oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company’s business, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company’s projects; (vi) completion of the Company’s projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company’s current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management’s beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment.
These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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CONTACT: Media Contact:
Pro Music Rights
Jake P. Noch
KEYWORD: FLORIDA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER ENTERTAINMENT ENTERTAINMENT MUSIC LICENSING (ENTERTAINMENT)
SOURCE: Pro Music Rights, LLC
Copyright Business Wire 2019.
PUB: 11/13/2019 02:15 PM/DISC: 11/13/2019 02:15 PM