BEVERLY HILLS (Hypebot) –
Indie licensing agency Merlin, which represents almost 10% of the global music market, has reached an agreement with MySpace Music on behalf of its labels. The deal covers both streaming and purchase; and will be extended to indies that are not members of Merlin.
Some Merlin members we're outraged last year when MySpace spun off MySpace Music into a separate entity giving the four major label groups equity and control; and leaving independents locked out of the boardroom. Details of the new deal are not public, but it does include non-voting indie representatives at some MySpace board meetings.
Now "the same eligibility and level of participation" will be offered to all independent labels licensing content to MySpace Music. Without offering details, both sides say that it is "a plan tailored specifically for the independent music community that offers Merlin what it has sought from the outset – an opportunity to participate in and benefit from the financial growth of MySpace Music – in recognition of its contribution to that growth".
It's about time.