Royalty collections firm Audiam has a new owner, although the old one isn’t completely decoupling from its business.
Canadian collecting society Socan has sold a majority stake in Audiam to US collecting society Sesac, with Billboard reporting that Socan will keep a 15% stake in the business. Sesac boss John Josephson said that Audiam is likely to move away from its existing focus on publishing royalties to focus on recorded music income for artists and labels.
There’s some history here, mind. Audiam’s original founder Jeff Price, took a prominent role in the debates and legal actions around streaming, licensing and publishing royalties in the US. His departure in July 2020 was an acrimonious one.
Now Audiam will be under the same corporate umbrella as mechanical licensing organisation The Harry Fox Agency (HFA), which Price had criticised. Unsurprisingly, he is not impressed by yesterday’s acquisition.