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Zawya
11 hours ago
- Business
- Zawya
Music Nation approved by UAE to launch world-class collective management organization
UAE Ministry of Economy issues permit for Music Nation's advanced platform to license, collect and distribute public performance and neighboring rights royalties ABU DHABI — Music Nation Copyrights Management (Music Nation), a pioneer in music rights management in the United Arab Emirates, today announced the company received formal approval to license, collect and distribute royalties from public performance and neighboring rights, delivering a vital new source of revenue for music rights holders. With best-in-class tools, technology and leading industry partnerships with Broadcast Music Inc. (BMI), the largest performing rights organization in the world, and SoundExchange Inc., the recording industry's top digital global collective management organization, Music Nation will be the industry's first rights management organization capable of natively collecting performance, mechanical and neighboring rights. Music Nation is part of a broad UAE initiative to support the creation of a thriving music ecosystem and to elevate the region's music industry by protecting the rights of music creators and compensating them for the commercial use of their work. This vital new source of royalty revenue in the UAE will help recording artists, songwriters, composers and others create sustainable careers and ensure music creators, labels, publishers and other music copyright owners, both local and international, are compensated for the use of their work. 'Today marks a pivotal moment for the UAE and Music Nation,' said Chairwoman Rasha Khalifa Al Mubarak. 'After years of careful planning, Music Nation is positioned to become a cornerstone of music licensing, empowering the Emirates' vibrant creative industry. As an Emarati, I am honored to establish a world-class music rights infrastructure that not only elevates local artists to greater heights, but also showcases our rich musical heritage and cultural traditions to the world. In partnership with industry leaders BMI and SoundExchange, our cutting-edge technology and services will protect music rights holders and propel the UAE's music economy to new frontiers.' His Excellency Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, said, 'The Ministry continues its efforts to develop an advanced system for the governance of copyright and related rights, based on global best practices. This is achieved by developing regulatory and legislative frameworks, stimulating investment in creativity, and supporting effective collective management systems that ensure the protection of rights and enhance the confidence of creators and musicians in the country's creative climate. The collective management license for music plays an important role in promoting a creative culture in society, providing comprehensive protection for the intellectual property rights of musicians and artists, and providing mechanisms to ensure financial justice for artists and creators in the distribution of revenues and transparency in the collection and distribution of copyrights. This supports raising the competitiveness of the music industry in the country and making it an attractive destination for creative and cultural works worldwide.' Mike O'Neill, President and Chief Executive Officer of BMI, said, 'We are thrilled to partner with Rasha, the Music Nation team and SoundExchange to ensure that music creators in the UAE have the opportunity to turn their passion into their careers by being paid for their creative work. BMI has always been an unwavering advocate for the songwriters, composers and rights holders behind the songs the world loves, and we're excited to provide our music licensing infrastructure, expertise and deep experience fostering career development to benefit the region's incredible creators. There are endless possibilities ahead that Music Nation will deliver, and we look forward to a bright future together.' Michael Huppe, President and CEO of SoundExchange, said, 'This is a major milestone and a vote of confidence from the UAE Ministry of Economy in the combined abilities of Music Nation, SoundExchange, and BMI. We're excited to get to work establishing the region's premier collective management organization and serving creators with the same level of excellence we have for more than two decades in the U.S.' Music Nation will begin collecting royalties in the UAE for more than 2 million songwriters, composers, publishers, artists, sound recording owners and other music creators. The UAE and the broader Middle East and North Africa (MENA) region remain the fastest-growing music market in the world, with the IFPI reporting the territory expanded in 2024 for a tenth consecutive year. Music revenue in MENA last year climbed by 22.8%, outpacing the global average of 5.9% growth. About Music Nation Music Nation, a pioneer in music rights management in the UAE, licenses the rights of authors, publishers, sound recording owners and performers throughout the United Arab Emirates (UAE). These rights are referred to as neighboring rights (for sound recordings), public performance rights (for musical compositions) and mechanical reproduction rights (also for musical compositions). With world-class partnerships and technology, Music Nation is helping implement the UAE's vision for the protection and enforcement of musical copyrights by developing a world-class music licensing and royalty distribution infrastructure. Music Nation, with its partners BMI and SoundExchange, will help ensure that music creators and rights holders are fully and fairly compensated for the use of their work. For more information, visit Music Nation media inquiries, please contact: Andrew Fixmer / Longview Communications andrew@
Daily Mail
19-05-2025
- Business
- Daily Mail
AccuRadio files for Chapter 11 bankruptcy
AccuRadio has followed in the footsteps of iHeartRadio and Audacy by filing for Chapter 11 bankruptcy protection. Company founder and CEO Kurt Hanson confirmed Wednesday's bankruptcy filing was the result of a failed legal settlement with rights organization SoundExchange. SoundExchange had filed a lawsuit against Chicago-based AccuRadio for unpaid royalties owed to artists and labels last year. 'AccuRadio has spent almost 25 years building an innovative and well-loved music streaming service while facing royalty obligations that climbed to levels that seem to suggest the system is rigged, perhaps inadvertently, against small and midsize streamers,' Hanson said in a statement. As of now, the radio platform owes the non-profit organization more than $10 million, The Chicago Tribune reported. The company also owes around $200,000 each to the ASCAP (American Society of Composers, Authors, and Publishers) and Broadcast Music Inc (BMI). Known for being one of the earliest internet radio platforms, AccuRadio features music channels from over 60 genres, including playlists dedicated to Taylor Swift, The Beatles, and Adele. It receives more than one million monthly listeners. AccuRadio and SoundExchange have had a long history since the organization was created in 2003. SoundExchange has received more than $13.5 million in royalties over the years, but the ongoing lawsuit claimed AccuRadio stopped the payments in 2018. Despite creating a payment plan in 2020, SoundExchange accused AccuRadio of not following it, resulting in last year's suit filing. The two went head to head over settlements, which ultimately fell through. Both companies exited bankruptcy afterwards, and Hanson believes AccuRadio will do the same. 'Revenues have been consistently rising, and we are now profitable,' Hanson explained. 'Filing wasn't easy, but we believe AccuRadio will emerge healthier, more resilient, and better able to serve our loyal listeners and the artists we champion.' has reached out to AccuRadio for comment about the bankruptcy filing. It is one of many companies that have filed for bankruptcy this year, including various restaurants and fast food chains. It is not the only company to file for bankruptcy this year. Earlier this week, celebrity hotspot Planta filed for Chapter 11 bankruptcy . Hooters filed for bankruptcy in March , and Bar Louie abruptly closed restaurants before filing for the second time in five years . Other chains in trouble this year include On The Border Mexican Grill & Cantina and family-favorite restaurant Bertucci's . Want more stories like this from the Daily Mail? Visit our profile page and hit the follow button above for more of the news you need.
Daily Mail
19-05-2025
- Business
- Daily Mail
Pioneering radio network files for Chapter 11 bankruptcy following in iHeartRadio, Audacy footsteps
AccuRadio has followed in the footsteps of iHeartRadio and Audacy by filing for Chapter 11 bankruptcy protection. Company founder and CEO Kurt Hanson confirmed Wednesday's bankruptcy filing was the result of a failed legal settlement with rights organization SoundExchange. SoundExchange had filed a lawsuit against Chicago-based AccuRadio for unpaid royalties owed to artists and labels last year. 'AccuRadio has spent almost 25 years building an innovative and well-loved music streaming service while facing royalty obligations that climbed to levels that seem to suggest the system is rigged, perhaps inadvertently, against small and midsize streamers,' Hanson said in a statement. As of now, the radio platform owes the non-profit organization more than $10 million, The Chicago Tribune reported. The company also owes around $200,000 each to the ASCAP (American Society of Composers, Authors, and Publishers) and Broadcast Music Inc (BMI). Known for being one of the earliest internet radio platforms, AccuRadio features music channels from over 60 genres, including playlists dedicated to Taylor Swift, The Beatles, and Adele. It receives more than one million monthly listeners. Company founder and CEO Kurt Hanson confirmed the filing was the result of a failed legal settlement with SoundExchange AccuRadio and SoundExchange have had a long history since the organization was created in 2003. SoundExchange has received more than $13.5 million in royalties over the years, but the ongoing lawsuit claimed AccuRadio stopped the payments in 2018. Despite creating a payment plan in 2020, SoundExchange accused AccuRadio of not following it, resulting in last year's suit filing. The two went head to head over settlements, which ultimately fell through. 'We were extremely disappointed that we couldn't reach a negotiated settlement,' Hanson said. 'Furthermore, AccuRadio resumed full current payments to SoundExchange many months ago and continues to keep current with ongoing obligations.' The company's bankruptcy protection filing was similar to those filed by iHeartRadio's parent company iHeartMedia and Audacy in 2018 and 2024. Both companies exited bankruptcy afterwards, and Hanson believes AccuRadio will do the same. AccuRadio features music channels from over 60 genres, including playlists dedicated to Taylor Swift and The Beatles 'Revenues have been consistently rising, and we are now profitable,' Hanson explained. 'Filing wasn't easy, but we believe AccuRadio will emerge healthier, more resilient, and better able to serve our loyal listeners and the artists we champion.' has reached out to AccuRadio for comment about the bankruptcy filing. It is one of many companies that have filed for bankruptcy this year, including various restaurants and fast food chains. It is not the only company to file for bankruptcy this year. Earlier this week, celebrity hotspot Planta filed for Chapter 11 bankruptcy. Hooters filed for bankruptcy in March the second time in five years.
Miami Herald
15-05-2025
- Business
- Miami Herald
Online music streaming pioneer files for Chapter 11 bankruptcy
The radio broadcast industry has historically struggled with financial distress for decades, first in its battle against the television networks since the 1950s. Then, the battle intensified as internet music streaming began to grow in the 1990s. Don't miss the move: Subscribe to TheStreet's free daily newsletter IHeartRadio, the nation's largest radio station chain, filed for Chapter 11 bankruptcy in 2018, handing control of the network to its lenders in exchange for $10 billion in debt. Related: Popular whiskey and wine company files for Chapter 11 bankruptcy Audacy, the second-largest radio station owner in the country, on Jan. 5, 2024, filed for Chapter 11 bankruptcy, seeking to reduce its debt from $1.9 billion to $350 million and hand ownership of the company to its bondholders. The company's CEO, David Field, said at the time that 'The perfect storm of sustained macroeconomic challenges over the past four years facing the traditional advertising market has led to a sharp reduction of several billion dollars in cumulative radio ad spending.' Audacy was known as Entercom Communications in 1968 when it was founded by Joseph Field, the father of David Field. The company bought CBS Radio and its 117 stations in 2017, before changing its name to Audacy in 2021. Later last year, High Plains Radio Network, which operated 18 radio stations in Texas, New Mexico, Colorado, Oklahoma, Mississippi, and Arkansas, filed for bankruptcy in March 2024. And now, online music streaming service AccuRadio filed for Chapter 11 bankruptcy protection after reaching an impasse in negotiations with SoundExchange in seeking a lawsuit settlement over royalties owed for its services, according to a company statement. Related: Popular casual restaurant chain files for Chapter 11 bankruptcy AccuRadio filed its petition in the U.S. Bankruptcy Court for the Northern District of Illinois in Chicago on May 14 to restructure its debts, listing $500,000 to $1 million in assets and $10 million to $50 million in liabilities. More bankruptcy: Iconic auto repair chain franchise files Chapter 11 bankruptcyPopular beer brand closes down and files Chapter 7 bankruptcyPopular vodka and gin brand files for Chapter 11 bankruptcy The Chicago-based debtor's largest creditors include SoundExchange with a secured claim over $9 million; ASCAP, owed an unsecured claim of over $205,000; BMI, owed an unsecured claim of over $202,000; AdSwizz, owed an unsecured claim of over $18,000; Amazon Web Services, owed an secured claim of over $17,000; and Triton Digital, owed an unsecured claim of over $11,000. 'AccuRadio has spent almost 25 years building an innovative and well-loved music streaming service while facing royalty obligations that climbed to levels that seem to suggest the system is rigged, perhaps inadvertently, against small and midsize streamers,' AccuRadio CEO Kurt Hanson, who founded the firm back in 2000, said in a statement. 'The Copyright Royalty Board's rate-setting process leaves small and midsize players out of the process because the extremely high costs of lawyers, expert witnesses, and discovery make participation virtually impossible,' Hanson said. SoundExchange filed a lawsuit against AccuRadio on July 19, 2024, to recover alleged unpaid royalties owed to music performers and rights owners. SoundExchange was designated by the U.S. government to administer the Section 114 sound recording license to collect and distribute digital performance royalties on behalf of more than 700,000 music creators. SoundExchange's litigation against AccuRadio is subject to an automatic stay while the bankruptcy case proceeds. AccuRadio offers more than 1,400 music channels tailored to adult listeners. The independent service has been 100% advertising-supported for over two decades, with an audience of over a million listeners a month, according to the statement. Related: Classic auto parts company files for Chapter 11 bankruptcy The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
15-05-2025
- Business
- Miami Herald
Pioneering Chicago music streaming service AccuRadio files for Chapter 11 bankruptcy
Chicago-based internet radio pioneer AccuRadio, which launched its free music streaming service in 2000, filed for Chapter 11 bankruptcy protection Wednesday amid an ongoing legal dispute over artist royalty payments. AccuRadio, a leading independent streaming service offering nearly 1,400 music channels, owes SoundExchange, the organization empowered by Congress to collect digital royalties for recording artists, more than $10 million, according to the bankruptcy filing. "AccuRadio has spent almost 25 years building an innovative and well-loved music streaming service while facing royalty obligations that climbed to levels that seem to suggest the system is rigged, perhaps inadvertently, against small and midsize streamers," AccuRadio founder and CEO Kurt Hanson said in a news release Wednesday. Last year, SoundExchange filed a lawsuit against AccuRadio seeking an undisclosed amount of past due digital royalties owed by the music streaming service, a case which is ongoing in Chicago federal court. SoundExchange did not respond to a request for comment Wednesday. In addition to SoundExchange, AccuRadio owes about $200,000 each to ASCAP and BMI, the organizations which collect and distribute royalties for songwriters, composers and publishers, according to the bankruptcy filing. One of the nation's earliest internet radio services, AccuRadio has grown from three music channels to an array of options curated by programming experts in more than 60 genres, covering everything from adult contemporary and smooth jazz to K-pop and Nordic folk songs. The channels are advertising-supported, like traditional over-the-air radio, with no subscription fees for users. AccuRadio remains a leading music streaming service with nearly 10,000 average active sessions at any point during the day, according to the latest monthly ranking by Triton Digital. The service reaches more than one million listeners a month, according to Hanson. Formed in 2003, SoundExchange collects royalties from digital music providers such as Pandora, SiriusXM and other services to pay to the featured artists performing on the recordings. Over the years, AccuRadio has paid SoundExchange more than $13.5 million in royalties, according to its news release. But the service stopped paying royalties in 2018, according to the SoundExchange lawsuit. A payment plan was agreed upon in February 2020, but SoundExchange alleged that AccuRadio failed to live up to the agreement, prompting the 2024 lawsuit. Hanson said months of "good faith" negotiations with SoundExchange ultimately failed to reach a lawsuit settlement, leading AccuRadio to file for bankruptcy protection. "We were extremely disappointed that we couldn't reach a negotiated settlement," Hanson said in the news release. "Furthermore, AccuRadio resumed full current payments to SoundExchange many months ago and continues to keep current with ongoing obligations." In its news release, AccuRadio noted that large traditional radio chains such as iHeartMedia, Cumulus and Audacy have all successfully navigated Chapter 11 bankruptcy filings in recent years. Ironically, legacy terrestrial radio broadcasters have struggled in the digital age, in large part due to increased competition from music streaming services such as Pandora and Spotify, according to industry experts. AccuRadio's music streaming service remains fully operational and Hanson said the company intends to follow suit with its larger radio brethren and successfully emerge from bankruptcy as well. "Filing for bankruptcy protection wasn't an easy decision, especially since our revenues have been consistently improving and we have returned to profitability, but we are confident that AccuRadio will emerge from it healthier and more resilient, and will continue to be an outlet for human-curated music that our listeners desire and cherish," Hanson said. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
