The Irish Music Rights Organization (IMRO), which collects performance rights royalties on behalf of 11,000 songwriters, composers and music publishers in Ireland, has renewed a multi-year agreement with ICE, also known as the International Rights Enterprise.
IMRO first became a customer of ICE Core License in 2019, with ICE providing licensing and management services for online music use.
ICE is a pan-European music licensing center originally established in 2016 by three collecting societies: UK Music PRSSwedish STIMand German echo.
The company’s ICE core licenses include collecting societies PRS, STIM, GEMA, IMRO, BMI, Sabamand AKMand independent publishers harmony, Song Trust and peer musicas well as a range of other independent publishers represented through PRS’ core collective programme.
Earlier this year, ICE reported that for the first time, it distributed more than 1 billion euros (about. $1.09 billion) is available to rights holders for a rolling 12-month period (May 2023 to April 2024).
With the arrival of this milestone, its total circulation has reached 4.5 billion euros (about US$4.88 billion) since the first payment in 2016.
IMRO said the partnership with ICE will enable it to pay royalties to members’ online performances more quickly and increase transparency.
The CMO is currently transitioning from quarterly to monthly distributions of online royalties, which it says will make it the market leader among CMOs in the frequency of online distributions to members and affiliates.
IMRO reports 30% Revenue growth in 2023, which it said reflects “improving licensing terms on popular online streaming and social platforms, as well as the growing global reach of IMRO’s repertoire.”
“International collaboration is key to maximizing revenue for rights holders while minimizing costs without duplicating resources across markets.”
Victor Finn, IMRO
“We are proud to have established ourselves as a market leader by becoming ICE Licensing’s first non-shareholder CMO customer in 2019, and are equally excited to transition to monthly online issuance later in 2024,” said IMRO CEO. Victor Finn said in a statement.
“IMRO is committed to staying ahead of the curve and ensuring our members are fairly compensated for their creative work. Many members are receiving higher online royalty income, including from countries where they have not previously received royalties.
Finn added that IMRO is “pleased” to continue working with ICE.
He said: “International cooperation is the key to maximizing revenue for rights holders, minimizing costs, and not duplicating resources in various markets.”
“This extension is a testament to the strong relationship we’ve built over the years and our shared commitment to ensuring members get the best compensation for using their music online.”
“Supporting forward-thinking CMOs and publishers to deliver innovative services to their songwriters and composers is critical, and this is ultimately who we serve, ensuring our partners thrive in the modern music copyright environment.”
Ben McEwan, ICE
ICE Chief Commercial Officer Ben McEwan It said the organization “significantly values” the confidence IMRO has shown in ICE through this extension.
“Supporting forward-thinking CMOs and publishers to deliver innovative services to their songwriters and composers is critical to ensuring our partners thrive in the modern music copyright environment,” he said.
“Long-term, close partnerships are a hallmark of our way of working and we look forward to working with the excellent team at IMRO over the long term, whether within ICE’s core licenses or otherwise representing their rights.”global music business
