YouLicense, the first online music licensing marketplace, released a product update last week detailing the launch of Private Label, a new service catering to YouLicense’s target customer base comprising of independent labels and enterprising artists. Private Label is essentially a branded storefront, specifically developed for the streamlined procurement of synchronization and master use music licenses. This is a major turning point for YouLicense which, until now, has very much operated as a destination site and, arguably, the only standalone open marketplace for music licensing. The company has already converted noteworthy distributors and labels including INgrooves, Big Fish Media, AWAL, MBop Digital, Dashgo, and Cyberset Records. Private Label is currently in closed beta but interested parties can request an invitation here.
SoundReef, currently in closed beta, has come up with an interesting angle in a very lucrative ‘indie’ music licensing market which YouLicense.com is competing in and PumpAudio ? acquired by Getty Images in 2007 for $42 million ? has already won a tidy share of. Offering online music licensing solutions for independent artists and small companies, SoundReef hopes to encourage new business by making it possible for clients seeking music for commercial use to license music by compensating the artist (or copyright administrator) with promotional effort. What a clever idea! As most commercial use of music is small-scheme with zero-budget, music buyers now have an alternative currency to barter with and it just so happens to be the most valuable commodity of all for bootstrapping artists: Exposure. Let’s see how this venture kicks off.
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