MUMBAI: UOMO Media, a multi-channel entertainment and media company, has announced the launch of its music publishing division UOMO Publishing.
The division is tasked with creating a catalogue of music copyrights through acquisitions as well as the signing of individual composers. UOMO Publishing will find opportunities to monetize these rights by placing songs on recording artists, film, television, video games and commercials.
“This is a key element in our overall strategy of becoming a multi-channel entertainment company, with multiple touch points on the value chain,” commented UOMO Media CEO and chairman Camara Alford. “It gives us access to a whole new class of assets in the form of intellectual property, which offers opportunities to generate increased revenues from diverse platforms and distribution channels.”
According to IFPI, global revenues for just music publishing were $8 billion in 2006, up from $7 billion the year before, with revenues being generated from new channels such as ring tones, video games and music downloads, as well as traditional channels such as live performances, radio/TV usage and the sale of physical recordings.