CISAC, the International Federation of Authors and Composers Associations, centralizes the distribution and management of the International Standard Musical Works Specification (ISWC).
Previously, these codes have been assigned to 52 million song works, processed by a network of 54 registration agencies in 79 countries.
CISAC commissioned Spain’s Point Technologies to develop a new registration plan. It is said that the administrative transition of ISWC began in July, and more than 100 collection management organizations have participated in the new system. Other publishing communities and digital music platforms are expected to transition to the new ISWC system soon.
CISAC Chairman said: “For composers and composers, it is impossible to update ISWC in a timely manner. They are now more dependent on digital income than ever before,” Bjorn Urvius Said in a statement. “ISWC is one of the most important signs in the music industry. I am very happy that the upgrade has now been completed and is being implemented throughout the industry. It will be better and faster to track music works and help to invest more funds faster The creator’s pocket. The key now is to ensure that the system is truly global—it must be universally applied to provide potential rewards for all players.”
According to the CISAC announcement, the new system greatly reduces the time required to allocate ISWC, which actually means within a few hours after publishing the work. This means that songs streamed through digital services can be more easily monetized. In addition, according to CISAC, the new system enhances the automation of song tracking, which will save society time and resources, which in turn should increase the compensation of creators.
CISAC data shows that in 2019, music publishing royalties generated by digital licenses increased by 27%, reaching 2.1 billion euros, and currently accounts for about 22% of all music publishing collections.
The Director of CISAC said: “At a time when creators need digital income more than ever, we are making a major upgrade to the ISWC system, which will lead to major improvements in the identification and licensing of musical works.” Gadioron Said in a statement. “The new system will save time and cost for all parties, and most importantly, it will help provide more royalties to creators. We are now working closely with partners in the music industry to ensure that the upgraded system is digital It is widely used in the music market.”
Do not confuse ISWC with ISRC or international standard recording codes assigned to masters of recorded songs. In fact, matching ISWC with ISRC is a necessary condition to ensure that songwriters get paid when playing songs.
Another major benefit provided by ISWC centralization is that it helps avoid duplication and inaccuracies that sometimes appear in the market. For example, if a song is created by multiple authors from different collection management organizations in different countries/regions, sometimes multiple codes are assigned to a work inadvertently. According to CISAC, the new system will end the current practice of assigning ISWC codes by various associations. “This will cause many data integrity challenges.” CISAC is a trade organization of 232 member associations in 121 countries/regions. within the globe.
The CEO of the Brazilian Union of Composers and the CISAC Board of Directors said: “The global music industry needs more than ever to continuously monitor, adjust and improve the tools we need to ensure that creators and music players around the world are provided quickly, Accurate remuneration.” Chair Marcelo Castro Blanco Provided to billboard By CISAC. “CISAC must formally upgrade ISWC to meet the growing and unstoppable music streaming challenges we face today.”
Similarly, digital services applauded this initiative. “We commend CISAC for the long-awaited modernization of ISWC,” Spotify Senior Director of Licensing Victoria Campamo In the statement, CISAC also provided an announcement. “We hope to see this very important job identifier spread throughout the ecosystem (including labels and licensees) so that royalties can be communicated to songwriters in a faster, more effective and more accurate way.”
Music distributors will also attend the party. Sony/ATV Music Publishing Company’s senior director of global administration said: “The new ISWC system will greatly speed up code creation and increase code sharing between different stakeholders.” Alex Bartby Said in a statement. “This is good for creators and it is good for the entire digital market.”
Finally, the CEO of Spanish Point Donna Cullen Add to the statement provided by CISAC billboard“We are proud that CISAC chose Spanish Point and our matching engine software as the basis of the new ISWC system. Our matching engine uses the latest cloud and AI (artificial intelligence) technology to help creators around the world get faster and more accurate Payment.”[artificialintelligence)technologytohelpcreatorsworldwidegetpaidquickerandwithgreataccuracy”[artificialintelligence)technologytohelpcreatorsworldwidegetpaidquickerandwithgreataccuracy”