Audible Magic and SOCAN announced the companies have entered into an agreement to transfer SOCAN’s content fulfillment and rights administration business of MediaNet to Audible Magic. With this acquisition, Audible Magic can now provide digital platforms a comprehensive range of services to enable and manage the use of music.
Audible Magic is the leading provider of identification and compliance solutions to social networks hosting user-generated content. It provides social media platforms with solutions for music licensing, content identification, and rights management.
SOCAN acquired MediaNet in 2016. Over four years, we realized benefits from sharing data and technology, which allowed us to improve matching accuracy for the use of our members’ music. SOCAN has now created a strategic partnership with Audible Magic to similarly use its technology and services to help us continue to improve our own precision.
“The acquisition of MediaNet services by Audible Magic creates long-term benefits for SOCAN’s members and clients,” said Jennifer Brown, Interim CEO of SOCAN. “Audible Magic is a knowledgeable and skilled company, and we’re looking forward to working together to improve the accuracy of reporting to publishers and songwriters.”