The trade body for musicians PRS for Music has come to a ‘multi-territory’ agreement with SoundCloud and called a halt to legal proceedings against the firm.
The organization launched a lawsuit against SoundCloud in August after five years of negotiations on getting royalties for its members broke down.
F**k it, we'll do it live!
Our biggest ever edition of TNW Conference is fast approaching! Join 10,000 tech leaders this May in Amsterdam.
PRS said this agreement means its members will now be “fairly rewarded” for the use of their music, while the announcement also outlines plans to work together into 2016 to make the platform even better.
This will include joint working on improving metadata on the platform so artists can better understand if their music is being used – and get paid for it – as well as promising “new SoundCloud services and functionality across Europe in 2016.”
TNW has reached out to SoundCloud to find out exactly what those services might look like. We’ll update the post if we hear back.