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Business News (more headlines) 02-03-2013

Network Of Music Partners Goes For Growth In 2013

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Website: http://www.nmp.eu
Network of Music Partners (NMP), the new name for the joint venture between Nordic Copyright Bureau (NCB) and PRS for Music, has announced it is now processing recorded media royalties for nine countries.

The company, which is headquartered in Copenhagen, Denmark, with an office in the UK, now employs 50 staff and operates the modern flexible Bi-Frost processing system.

In 2012, staff, IT and assets were transferred to the company from NCB and PRS for Music, and Karsten Dyhrberg Nielsen took up the position of Managing Director.

The initiative was established in 2011 through a joint vision to strengthen the international presence of its parent societies and reduce back office processing costs.

It is now processing the Central Licensing Agreement for EMI Music as well as significant recorded media royalties from other physical sales. To date over £40m (€46.8m / $62.9m) in royalties have been successfully processed for songwriters and publishers.

Karsten Dyhrberg Nielsen, Managing Director of NCB, said: 'We're especially pleased with the success NMP has had in its first year. The company is providing an excellent and enhanced service to all of its customers, enabling consolidation, shared investment and reduced costs. 2013 will be the year for growth and we're actively talking to new partners to see what NMP can do for them.'

Robert Ashcroft, Chief Executive of PRS for Music, added: 'In a declining physical market it is essential for us to work with a partner for recorded media processing. Updating our own infrastructure and systems independently would have been prohibitively expensive for our members. NMP has enabled us to improve our offering and deliver vital royalty money to our membership. We are now in a position to grow this business, rather than manage its decline.'

Discussions with potential new partners are ongoing and will be announced in due course. Network of Music Partners website is available at www.nmp.eu

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