Pandora and Warner/Chappell Music, the global music publishing company of Warner Music Group, today announced a multi-year licensing agreement for Warner/Chappell Music’s catalog of musical works. This direct publishing deal creates business benefits for Pandora, while modernizing compensation for Warner/Chappell Music and its songwriters in the U.S.
“It is Warner/Chappell’s top priority to make sure our songwriters are prospering both creatively and commercially, and that the value of their music is properly recognized,” said Jon Platt, chief executive officer, Warner/Chappell Music. “We look forward to seeing our songwriters benefit from this new agreement with Pandora.”
“We are thrilled to partner with Warner/Chappell Music, which has represented many of the most talented songwriters for over 200 years,” said Brian McAndrews, chief executive officer, Pandora. “Pandora is proud to be part of their tradition of maximizing the value of music publishing and talent.”
While specific terms of the multi-year agreement are confidential, the companies worked together to build an innovative approach to publisher economics. The deal allows Warner/Chappell Music to obtain its goal of delivering improved performance royalties for its songwriters, while Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company’s product offering over time. The royalties paid by Pandora to sound recording owners are not affected by this agreement.