Synchtank report: Songwriters demand better terms

Founded by Joel Thomas Jordan in 2008, Synchtank is a UK digital entertainment management platform which offers a range of cloud-based solutions for managing digital entertainment assets, intellectual property, metadata and royalty accounting.

Music Publishing in the Age of the Songwriter comprises four sections focusing on different segments and will be released weekly. Part one explores the evolution across the music publishing industry in a new era. Other parts are titled Future-Proofing Publishing Services, The Economics of Streaming, and Digital Drivers of Growth.

The aim of the report is to provide a bird’s eye view of the publishing industry in 2022, with interviews featuring key industry executives and songwriters. Contributors include Sony Music Publishing's Jon Platt, National Music Publishers Association's David Israelite, Hipgnosis' Merck Mercuriadis, ABBA member and CISAC president Björn Ulvaeus Khosrowshahi, and Downtown Music Services Mike Smith, among others.

The report outlines the pressing issues the industry has faced and the resolutions taken to combat them in the last decade. It also looks at how the services and technology used by publishers have evolved over the period. “Recent years have seen a fundamental shift in power across the music industry as creators have become more empowered than ever before,” Synctank said. “This shift has been led by new innovative technologies, changing music consumer behaviour, and the launch of new business models to support creators across the industry. 

“Songwriters and artists now have higher expectations of services provided by their music partners and are empowered to negotiate more favourable deal terms and demand faster and accurate remuneration for their art,” the report said.

Additionally, the report anticipates future drivers of growth, as well as financial, technological and cultural changes that will enable music publishers to provide value to songwriters.

“The last decade has been a pivotal time for the music industry as new technologies and services have disrupted historic practices and business models,” Synchtank CEO Rory Bernard said. “This report is our way to support the future of the music publishing industry by highlighting current trends, challenges, and potential growth areas whilst emphasising the need for continued adaptation and evolution."

Music Publishing in the Age of the Songwriter follows Synchtank's 2021 Drowning in Data: Royalty Accounting and Systems in the Digital Age report, which addresses the challenges that music publishers face with regard to rights, royalties and payments in the digital age, and the vital role that technology plays.

View part one of the report here.