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ASCAP, SACEM And PRS For Music Initiate Joint Blockchain Project To Improve Data Accuracy For Rightsholders

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Three of the largest member-owned collection societies in the world – ASCAP, the American Society for Composers, Authors and Publishers; SACEM, the Society of Authors, Composers and Publishers of Music; and PRS for Music – announced a groundbreaking partnership to prototype a new shared system of managing authoritative music copyright information using blockchain technology.

The societies are working together to model a new system for managing the links between music recordings International Standard Recording Codes (ISRCs) and music work International Standard Work Codes (ISWCs). Establishing robust links between these two pieces of data offers a practical solution with enormous potential for improving the processes of royalty matching, which will in turn speed up licensing, reduce errors and reduce costs.

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