SIMPLIFIED PROCESS: The proposed joint venture will provide licenses for their combined repertoire which can then be used in several countries, in contrast with the current system which requires separate permits from each of the societies.
BRUSSELS: Three of Europe's biggest groups collecting royalties for songwriters and performers secured EU regulatory approval to set up a cross-border online music licensing venture after agreeing to concessions allowing rivals to compete.
Britain's PRS for Music Limited (PRSfM), Sweden's Foreningen Svenska Tonsattares Internationella Musikbyra (STIM) and Germany's Gesellschaft für musikalische Auffuehrungs- und mechanische Vervielfaeltigungsrechte (GEMA) grant licenses on behalf of authors and performers to users such as online platforms iTunes, Spotify, YouTube and Deezer.
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