Believeowned DIY music distribution company TuneCore and UK-based publishing administrator Music group Sentric renewed their partnership.
TuneCore says that the deal allows it to use Sentric’s technology and direct the global collection network to “increase revenue opportunities for TuneCore publishing composers”.
The renewal comes a year after Sentric Music Group was established buying by Swiss-based fintech company Utopia Music, with founder Sentric Chris Meehan joins Utopia as Vice President of Royalties Management Services.
The renewal coincides with the expansion of TuneCore’s offerings. Through the original partnership, formed in 2018, TuneCore artists can submit unlimited songs for a one-time setup fee of $75 and 15% commission and sync service option.
TuneCore says the innovation now deepens its partnership with Sentric and enables it to “provide musicians with more flexibility, advancement, and a new premium publishing interface”.
Through its partnership with Sentric, TuneCore offers memberships to musicians for all existing global performance and mechanical royalty associations.
Since its founding in 2012, TuneCore says that their Publishing Administration service has paid more than 100 million USD to musicians. The company says more than 80% of its total publishing revenue has been collected since partnering with Sentric in 2018.
TuneCore also reports that 2022 marks the 10th year in a row that the company has seen growth in total publishing revenue of 20% or more over the same period last year, and international sources account for more than 40% of royalties paid to the company. artists in 2022, compared to less than 10% in 2019.
On December 8, the company revealed that they have already paid off 3 billion USD royalties to artists since it was founded in 2006.
That payout number marks a 500 million USD up from the previous payments update provided by the company, which was $2.5 billion, in April.
“Our long-term partnership demonstrates a commitment to the sector, and we will continue to enhance our services, technology and network to ensure this continues.”
Chris Meehan, Sentric Band
Chris Meehan, Founder of Sentric Music Group said: “We are delighted to have been able to allow TuneCore to serve the market of independent artists both with domestic and international payments over the past 5 years.
“Our long-term partnership demonstrates our commitment to the sector, and we will continue to enhance our services, technology and network to ensure this continues.”
“TuneCore’s partnership with Sentric has allowed us to better serve independent musicians and put more money in their pockets.”
Andreea Gleeson, TuneCore
“TuneCore’s partnership with Sentric has allowed us to better serve independent musicians and put more hard-earned money in their pockets,” said Andreea Gleeson, CEO of TuneCore.
“We are excited to renew our partnership and continue to provide our artists with the resources they need to thrive and sustain long-term careers.”
“At TuneCore, it’s our mission to educate and empower them so they don’t lose what is legally theirs, and our extended partnership with Sentric ensures that we have can help them claim more money than ever before.”
Chris Dampier, TuneCore
Chris Dampier, Vice President, TuneCore Publishing adds: “Self-published musicians are the most underserved community in the music business.
“At TuneCore, it’s our mission to educate and empower them so they don’t lose what is legally theirs, and our extended partnership with Sentric ensures that we have can help them claim more money than ever before.”Global Music Business
