Only a few weeks into Mint Digital Services, a new joint venture between U.S. music rights organization SESAC and the Swiss authors' rights society SUISA, the new partners are reporting Mint's first contract, with publisher Warner/Chappell Music.
Effective immediately, Mint Digital Services will assume the administration and invoicing of Warner/Chappell's online licensing business for iTunes. Mint will take care of the accounting and the administration of the transnational music-licensing business.
"Mint Digital Services allows for a smoother and more efficient process of administering license agreements for online services by drawing on a database resulting from the combination of data from SESAC Performing Rights, The Harry Fox Agency and SUISA," remarked Daniel Koehler, CEO of Mint Digital Services in Zurich. "The Mint database includes approximately 16 million documented musical works and 96 million sound recordings, over 25 million of which are pre-linked to musical compositions."
The joint venture will also handle the billing and administration of licenses issued on behalf of The Harry Fox Agency, SESAC and SUISA, and also offer its services to other publishers worldwide.
Alexander Wolf, a delegate of Mint's board of directors and president of SESAC International, told Billboard in Munich: "With Mint, rightsholders will benefit from a more thorough exploitation of the online service providers' usage reports, which will lead to increased proceeds. Moreover, royalties will be paid more quickly, and transparency regarding their catalogs, licenses and royalty statements will increase. By combining the expertise of the most accurate licensing process in Europe and the largest database of composition to recording links, Mint has created a platform that identifies more revenue from digital providers. This also enables publishers, such as Warner/Chappell Music, to realize more revenue faster and more accurately than ever before, and we're thrilled to have them as a partner."