SourceAudio, the music licensing company that provides music technology to broadcasters, publishers and production companies, is making a leap into podcasting. The company has teamed up with SoundExchange—the music royalties collections agency—to create a music marketplace for podcasters. PodcastMusic.com will give shows access to SoundExchange’s music creators and offer licensing for label and publisher-owned music.
Los Angeles-based SourceAudio first revealed last October that it was expanding into the podcasting business with PodcastMusic.com. During the past ten months it has been working with podcasters including the iHeart Podcast Network, Entercom, Cadence 13 and Blubrry, according to the company’s website. They have access to 700,000 production and music bed tracks, sound design elements and special effects. And under the SoundExchange partnership PodcastMusic.com will add pop music licensing opportunities from the big record labels and indie labels beginning in 2020.
“Currently there is no simple way for a podcaster to acquire rights for feature music in their podcasts. We are solving that by working with SoundExchange,” said Geoffrey Grotz, CEO/co-founder of SourceAudio. “By connecting with SoundExchange’s community of music creators including labels, artists, publishers and songwriters, and benefitting from their deep expertise, we will be able to deliver a high-quality repertoire of music for podcasters.”
Attorneys have long warned podcasters that music is strictly off-limits since the licensing process was too complex and expensive. Podcasters need two licenses to avoid potential take-down notices or legal action. They need a mechanical license that allows listeners to stream or download an episode. Podcasters also need a master use/sync license. That’s the license a podcast needs from a record label in order to legally use their sound recording. The music marketplace will include options for podcasters that just need one song for their intro, to bigger U.S. and international subscriptions that will give podcaster access to a library of production music to be used in podcasts, promos and advertising.
When the expanded access to music begins next year PodcastMusic.com will allow podcast producers to license label and publisher-owned music with the click of a button. “Our collaboration with SourceAudio will make the process of licensing music simpler through a one-stop licensing marketplace,” said SoundExchange CEO Michael Huppe.
SoundExchange says music rights holder participation will be on a voluntary basis. It has not yet announced which record labels and publishers will allow their catalog to be licensed to podcasters. That roster is expected to be compiled over the next several months.
Huppe thinks it makes financial sense for music rights holders to embrace on-demand audio. “The podcast industry is rapidly growing, and this collaboration will provide SoundExchange’s music creators – both labels and publishers – with an additional way to monetize their work,” he said.
For broadcasters looking at ways to get music into their podcasts, SourceAudio is a familiar face. Its Alpha Libraries is the largest production music library used by many radio stations.