The success of a record label is always dependent on the number of songs produced and played around the world. As such, the remuneration collected through Gramex is also essential. As technology develops, Gramex royalties can be invoiced more efficiently and accurately. The company expects the reimbursements to become more diversified in the future.
“As technologies evolve and music listening habits change, we believe that in the future Gramex royalties could also come from new and more diverse sources, such as virtual reality musical experiences, different digital platforms and other online events,” says Marcus Palmu, Chief Data & Analytics Officer at PME.
Gramex remunerations are paid to the producer of the recording and the performer of the music. PME’s label manager Aleksi Kipahti also encourages artists to take an interest in their rights and join Gramex.
“Artists should definitely be interested in their rights. They are an integral part of an artist’s income generation and compensation for creative work done. By becoming a Gramex client, artists don’t have to worry about collecting royalties themselves, Gramex does it for them.”
For PME, neighbouring and copyright means both revenue and recognition from music performers and producers. Palmu and Kipahti hope that music consumption and use will continue to be vibrant and business conditions for music producers will be good.
For us, copyright means the opportunity to produce and publish music and bea apart of creating a Finnish culture. As a music producer, we think it’s great to be involved in helping artists’ careers and releasing music to the world.