MUMBAI: RightsFlow, a provider of mechanical licensing, accounting and royalty payment services for companies that sell or distribute music worldwide, announced the completion of a $1.5 million Series A financing round with Originate Ventures of Bethlehem, Pennsylvania.
The company helps online music services, record companies, distributors and artists properly license and remain compliant with a complex array of US copyright obligations while ensuring payment for rights-holders. The completion of the Series A financing will allow RightsFlow to more rapidly expand their robust worldwide data and licensing network as well as develop additional products and services.
"As distribution methods for music have changed the legal obligations to comply with U.S. copyright laws have gotten even more complex. We believe that creators should be paid for the use of their work and recognize that in a digital era many businesses are either unaware of the copyright regulations or find them to be a costly burden. The service we have pioneered creates a single, cost-effective channel through which rights-holders and companies that sell or distribute music can connect, ensuring proper licensing, accurate accounting and timely payment of royalties," said RightsFlow co-founder, president and CEO Patrick Sullivan.
"It is no secret that physical sales of music continue to trend downward while the array of devices and delivery methods for digital tracks continues to grow. We see this as a real growth opportunity for RightsFlow. Regardless of the distribution method, music publishing and copyrights are still an integral part of the music being used or sold. RightsFlow has built a successful business addressing the issues of copyright compliance and royalty accounting," said Originate Ventures’ Eric Arnson.
RightsFlow has been at the forefront of solving the complex issues of copyright compliance and royalty payment as new methods of consuming music have emerged.
The company’s proprietary licensing, accounting and royalty payment technology is recognized as a cost-effective and reliable service that makes it easy for businesses selling or distributing music in a digitally enabled market to be compliant with U.S. copyright laws. RightsFlow also ensures that artists, songwriters and publishers are paid for the use of their music and provides them with an unprecedented level of data transparency.
