NEW YORK & OAKLAND, Calif.-- December 23, 2015 -- Pandora (NYSE:P), the world's most powerful music discovery platform, and Atlas Music Publishing, a digital market minded alternative to big box, high volume music publishing, today announced a multi-year licensing agreement for Atlas Music Publishing’s catalog of musical works. This direct publishing deal creates business benefits for Pandora, while modernizing compensation for Atlas and its songwriters in the U.S.
“As consumption of music moves online, it is vital that we, as a proactive publishing partner to our writers, have direct relationships with key companies in the space and none are more vital than Pandora,” states Richard Stumpf, chief executive officer, Atlas Music Publishing. “It’s not just about the better royalties we achieved, clearer view of transactions, and the march towards ultimate parity, but also about having an integrated creative relationship.”
“Pandora is committed to a forward-thinking approach to identifying partnerships within the music industry,” said Brian McAndrews, chief executive officer at Pandora. “Atlas presents a creative and modern perspective to music publishing in today’s dynamic environment, and we are eager to work with them to support their songwriters and new music creation.”
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 Atlas Music Publishing 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 public performance royalties Pandora also pays to rights holders of master recordings are not affected by this agreement.
Pandora is the world's most powerful music discovery platform - a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, live on stage or anywhere fans want to experience it. Our team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians, Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.
ABOUT ATLAS MUSIC PUBLISHING
Founded by Richard Stumpf (CEO) in 2013, Atlas Music Publishing is a service-oriented, digital market minded alternative to big box, high volume music publishing. Atlas was built on the belief that “Bigger is not better. Better is better.” Bringing together a team of veteran music publishing executives with proven track records, the company currently represents songs performed by top stars including Madonna, John Legend, Carrie Underwood, Kelly Clarkson, Daughtry, Luke Bryan, Keyshia Cole, Icona Pop, Prince Royce and Colbie Caillat. The company boasts a roster of hit-makers that spans multiple genres including Van Halen, Toby Gad, Printz Board, Dan the Automator, Mike & Keys, Matthew West and Ashley Gorley as well as emerging artists Falls, Alex Winston, Alex Vargas, and Canyon Spells, amongst others. Well-funded by a mix of long-term strategic and financial partners with access to up to $400 million in capital, Atlas provides its writers with on the ground representation in every global territory, with its headquarters based in New York. For more information, visit www.atlasmusicgroup.com. For breaking news updates and behind-the-scenes information follow @Atlasmusicpub on Twitter.
Dominic Paschel, 510-842-6960
Corporate Finance & Investor Relations
Tracy Zamot, 917-579-6704
PR & Corporate Communications
Atlas Music Publishing