Netflix, an over-the-top content platform and production company, has recently inked a long-term exclusive agreement with BMG, a music company. The deal was geared towards the administration and management of its music publishing rights across the globe, outside the U.S. The production company also entered a similar agreement in 2017.
Under the terms of the latest agreement, BMG will operate as the exclusive music partner of Netflix outside the U.S. and handle rights and royalties for its original series and films. In addition, the global rights and royalties team of the music company will work with the production firm to ensure efficient music registration on its service, recognize new approaches to income tracking, and fast-track international royalty payments.
Netflix, like all other BMG clients, will fall under its cloud-based rights management platform that adopts AI algorithms to optimize matching.
According to Dominic Houston, Vice President of Music Legal at Netflix, BMG has been serving as an exceptional partner, both as a trusted 3rd party & an innovator in the music rights administration. The recent deal will enable the company to consistently provide high product support to the creators as well as bring new music to members worldwide.
Hartwig Masuch, CEO of BMG, has reportedly cited that the recent deal inked between the company and the technologically savvy entertainment company can be considered an endorsement. It has also shown excitement towards extending the successful collaboration with this production company.
Netflix has been functioning as the leading streaming entertainment service provider and has registered 204 million paid memberships in nearly 190 countries that access its TV series, documentaries, and other content across a broad range of languages and genres. On the other hand, BMG is a major music publisher and has been serving a list of network clients including Rede Globo’s Som Livre, Global Asylum, Turner Broadcasting (TBS), AMC Network, Participant Media, Amblin Partners, Fremantle Media, and ITV.