JAXSTA
announces strategic five-year
commercial agreement with
SONGTRADR

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Jaxsta Limited (ASX: JXT), the world’s largest public-facing, dedicated database of official music credits, today announced a strategic five-year commercial agreement in conjunction with an investment with the global B2B music rights and licensing marketplace platform, Songtradr. The total upfront value of the deal, including AUD$1.42 million via a convertible note, is AUD$1.92million.

This exclusive five-year commercial agreement enables an integrated platform solution providing Jaxsta Pro members direct access to Songtradr’s Neighbouring Rights revenue collection service. The total worldwide Neighbouring Rights market was estimated to be worth US$2.6 billion in 2019 (refer HERE).

The Jaxsta and Songtradr integration will enable Jaxsta Pro members who have claimed their profile to utilise Songtradr’s platform and tools to initiate collection and ongoing management of their Neighbouring Rights income. Songtradr will utilise Jaxsta’s music credits metadata to assist in the identification of uncollected revenue resulting from the performance of certain sound recordings on broadcast and digital/online media.

The partnership with Songtradr and the establishment of this new revenue stream for Jaxsta and its data partners further validates Jaxsta’s tech-enabled mission of providing accurate credit for music creators and rights owners, positioning Jaxsta as a valuable partner to the music industry.

Jacqui Louez Schoorl, Jaxsta CEO and Co-Founder, stated, “We are thrilled to be partnering with the team at Songtradr. We believe this new revenue-generating product will also drive increased adoption of Jaxsta Pro subscriptions. This partnership with Songtradr highlights the significant opportunities that exist in solving the data-centric challenges faced by the music industry. Songtradr can provide an enhanced global product leveraging the use of official metadata only available through Jaxsta. This service provides an additional benefit that Jaxsta Pro members will be able to access as we continue to grow the capabilities of the platform.”

Songtradr CEO and Founder Paul Wiltshire added, “Jaxsta has solved a significant piece of the music industry data dilemma and has built a scalable technology solution that integrates neatly into our music rights ecosystem and licensing marketplace. Many artists and musicians around the world have been impacted by loss of earnings from live performance and this partnership allows us to increase our capacity to collect unidentified and unclaimed revenue during these unprecedented times.” 

In response to the COVID-19 pandemic and its impact on the live music industry, Jaxsta Pro will be free for the remainder of 2020 in support of the music community through this difficult period. In September, Jaxsta Pro had surpassed 60,000 members. Additionally, tens of thousands of artist profile pages have been claimed, denoted by a green “verified” tick on the profile pages of artists and industry professionals such as P!nk, Tool, John Legend, Questlove, Rita Wilson, Shakira, Harry Styles, the Ramones, Alicia Keys, H.E.R., Bruce Springsteen, Pink Floyd, GRAMMY-winning mastering engineers John Greenham and Emily Lazar, GRAMMY-winning mix engineers Serban Ghenea and John Hanes, GRAMMY-winning producer Joe Chiccarelli, and more.

Complimentary memberships can be claimed HERE

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About JAXSTA

Jaxsta is the world’s largest public-facing and most connected music credits database and technology. Partnered with the industry’s leading major and independent record companies, as well as publishers, distributors, royalty agencies and industry associations, Jaxsta is the go-to authoritative source of official music credits information. The Company’s core platform, Jaxsta.com, is a free and paid subscription service and provides B2B data-solutions for the music and related media industries. Jaxsta ProBeta, the Company’s subscription service, harnesses the power of Jaxsta’s data to help music industry professionals connect, save time, and advance their businesses and careers. 

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About SONGTRADR

Songtradr is the largest B2B music licensing marketplace in the world providing music creators and rights owners with a complete tech-enabled solution for rights management and monetisation while providing B2B music users such as brands, advertisers, filmmakers, SVOD and broadcast networks, gaming, streaming and social media platforms with highly-efficient, AI guided access to music.

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About NEIGHBOURING RIGHTS

Neighbouring Rights relate to the public performance or broadcast of sound recordings (also known as master recordings) which contain performances by artists and musicians. Revenues are collected from broadcasters (including digital broadcasters) by Collective Management Organisations (“CMO”) which operate in most territories around the world. Revenues collected are shared between the sound recording owner, the featured artist and any performing contributors on the sound recording.

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AMNPLIFY – DB