Toronto, August 19, 2021 – SOCAN today confirmed that music rights organization SESAC of Nashville has purchased Audiam, the music publishing digital rights reproduction collection agency, from SOCAN.
The acquisition empowers SESAC to leverage Audiam’s claiming, income tracking and reporting technology and services, expanding its global service offerings to songwriters, composers, and music publishers. Audiam will remain under the leadership of Jamie Purpora who has over twenty years of experience in music publishing administration and has successfully led the Audiam team since 2015.
Jennifer Brown, SOCAN CEO, said, “SOCAN is delighted to complete this agreement with SESAC. Since our acquisition of Audiam in 2016, the organization has exceeded expectations, but the time is right for Audiam to continue its next phase with a new parent organization. We look forward to seeing this new chapter for Audiam as the organization benefits from new synergy with SESAC.”
SESAC Chairman and CEO John Josephson said, “SESAC is acquiring Audiam with the intention of supporting the existing management team, and to act as a supportive strategic partner and capital provider. We anticipate a seamless transition in ownership with no disruption to the Audiam business activities as a result of this transaction. Going forward, we believe this will position SESAC well for enhanced growth of our multi-rights, multi-territory global rights management business and continued delivery of best-in-class service to our affiliates, licensees and commercial partners.”
As part of the agreement, financial terms were not disclosed. SOCAN will retain a minority share in Audiam.
SOCAN is a rights management organization that connects more than four-million music creators, music publishers and visual artists worldwide and more than a quarter-million businesses and individuals in Canada. More than 175,000 songwriters, composers, music publishers and visual artists are its direct members, and over 100,000 organizations are Licensed To Play music across Canada. With a concerted use of progressive technology and unique data as well as a commitment to lead the global transformation of rights management, SOCAN is dedicated to upholding the fundamental truths that music and visual arts have value and creators and publishers deserve fair compensation for their work. For more information: www.socan.com
SESAC is a leader and innovator in global music licensing that administers public performance, mechanical, and other rights through its data, technology and services portfolio. SESAC Performing Rights, The Harry Fox Agency, Rumblefish, and Mint Digital Services drive efficiency in licensing for music users and enhance value for writers, publishers, and composers by providing timely and efficient copyright administration, royalty collection and distribution. SESAC has offices in New York, Nashville, Los Angeles, London and Munich.
Audiam licenses, monitors, audits, researches, collects and distributes digital mechanical, YouTube, and other digital-use royalties for music publishers. Through its unique technology, Audiam recovers past revenue and assures future payments for the songwriters and music publishers’ royalties. Founded in 2014, Audiam is based in New York City.