Hangout FM by Turntable Labs, Inc., a social platform connecting users through the discovery and curation of music, has signed a deal with SOCAN that will ensure the collection and distribution of performance royalties to all of our music creator and music publisher members for Hangout plays in Canada.
In addition, Hangout FM has secured a blanket license with the U.S.-based Mechanical Licensing Collective (the MLC), which will enable it to collect and distribute digital audio mechanical royalties for songs played in Hangout rooms.
These are two major steps toward the launch of a global, in-platform music catalog that will allow users to share their favorite tracks in real time as online DJs, or discover new ones while hanging out on virtual dancefloors.
“We’re excited to partner with Turntable’s social music platform to uphold the value of music,” said Kit Wheeler, VP of Royalty Collections at SOCAN. “The licensing agreement benefits Hangout FM’s subscribers and DJs, providing them with creative freedom to use the music they desire, while ensuring fair compensation for the incredible work of SOCAN music creators and publishers.”
“Hangout FM is dedicated to supporting all players in the music industry while creating a truly active and interactive listening experience for fans,” said Joseph Perla, Founder and CEO of Hangout FM. “By working with SOCAN and The MLC, we hope to prove that we are committed to that mission, establishing important pipelines to funnel revenue from our platform to rightsholders. We thank them for helping us make our vision a reality, and look forward to announcing more deals soon.”
Negotiations are ongoing with all three major labels and Merlin to build a dedicated Hangout FM music library, as well as music publishers, performing rights organizations, and other rightsholder organizations.