Music Licensing Brings in $250,000

Today public figures are brands. As brands they can leverage their assets to create promotional products (apparel, toys, footware, etc.) and generate additional revenue. Musicians are not excluded from this; and, in fact have more to gain from licensing than other celebrities. Not only can musicians sell the rights to photos, logos and interviews (to name a few), but they can also license out the rights to their music.

According to Rolling Stone, Matthew Weiner, creator of Mad Men, paid $250,000 in licensing fees to obtain the rights for the Beatles song, "Tomorrow Never Knows". The song was purchased to run on one of the shows episodes.



As reported on investopedia.com, other famous music licensing deals include:

1. Conan O'Brien's use of the Rolling Stones' "(I Can't Get No) Satisfaction", in response to being replaced on NBC's  "The Tonight Show."
(reportedly rights were bought for $50,000)
2. Conan O'Brien's use of the Beatles' "Lovely Rita" to introduce Tom Hanks on his final NBC showing.
(reportedly rights were bought for $10,000)
3. Nike's use of the Beatles' "Revolution" for their Revolution ad campaign.
(reportedly rights were bought for $250,000)

As you can see, music licensing can bring in a great deal of additional revenue. While commercial licensing (seen with well known artists/songs above) brings in an average of $75,000-$200,000 per deal (investopedia.com), music licensing in general is a worthwhile endeavor for any musician.

Interested in seeing how you can utilize Mediabox-DAM to store, promote and share your music to licensees? Click here to schedule a demo.

Integrations with 3rd-Party Rights and Contract Management Systems

Did you know Mediabox applications are designed to allow for easy integration with 3rd-party Rights and Royalty Management systems?

No software vendor is an expert in developing software for all industry business needs. Rights and Contracts Management companies are experts in their field, which are Rights and Accounting applications that are not exposed to Licensees. On the other hand, Digital Asset/ Style Guide Asset Management and Product Approvals software providers specialize in asset and creative workflow applications, which are primarily used by Licensees. These are very different business environments which require different approaches to their solutions.

Integration with mature, industry-specialized Rights systems is a relatively straight-forward and seamless process which results in delivering a fully-integrated solution while leveraging best-of-class applications. Licensing all three, disparate applications from a single vendor will not deliver the best results for you and your customers.

Typical integrations involve pulling a handful of key data fields from the Contracts system, including Licensee Name, Property Name, Product Categories Licensed, Contract Start and End Date, Contractual Samples Due, and using that data to regulate what Style Guide Artwork a Licensee can access in Mediabox-DAM and what projects a licensee can start in Mediabox-PA (Approvals).

Ask us about integrating your Contracts and Rights Management system with your Mediabox-DAM and/or Mediabox-PA applications today.