On Monday January 11th, 2021, Audible Magic and SOCAN announced that the companies had entered into an agreement to transfer SOCAN’s content fulfillment and rights administration business to Audible Magic.
Understandably, many content partners and customers of both MediaNet and Audible Magic have questions about what this means to their day-to-day interactions and services they may have been receiving from each company. We hope that the information below will provide some guidance, but always, feel free to reach out to us for further information. Both teams remain fully committed to our content partners and customers.
When does this acquisition go into effect?
The acquisition will be effective as of January 6, 2021.
Why is Audible Magic making this acquisition?
This acquisition enables Audible Magic to offer a unique one-stop-shop solution for digital service providers and UGC hosting platforms looking to manage copyrighted content. Audible Magic will be able to offer licensing, rights management, and royalty administration as well as industry-leading content identification services.
What are the benefits to Audible Magic customers?
Current Audible Magic customers will now have access to a full suite of content management services including licensing, rights management, royalty administration, and media fulfillment.
What are the benefits to MediaNet customers?
MediaNet customers will gain access to the gold standard in content identification services so important for accurate attribution of copyright, licensing, rights administration, and reporting
Will there be any changes to the services provided to MediaNet or Audible Magic customers?
Both Audible Magic and the MediaNet teams remain committed to all existing customers with the same level of support.
Are there changes to my contacts at MediaNet or Audible Magic for business or technical issues?
We do not intend to change your primary business contacts currently. If you do have any questions, please contact us at [email protected]
Will there be changes in how content partners should deliver content feeds?
There will be no immediate changes in how a content partner sends feeds to either Audible Magic or MediaNet. However, we will be looking into options to make the process easier for our content partners moving forward.
Will there be any changes to the processing of royalty payments or accounting reports?
The processes currently in place will continue as before the acquisition. As the two companies merge, we will be looking for opportunities to provide improved processes to benefit our content partners and customers. If you have any questions, please contact us at [email protected].
Are there changes planned to MediaNet customer billing and invoicing for services?
Yes, invoices will be issued with an Audible Magic logo starting in January. You will have access to your invoices and statements via an online portal. You will receive a link via email to set up your account within the portal, as well as a user guide for questions and assistance. Remittances should be made per the instructions on the invoice.