Believe-owned DIY music distribution company TuneCore and UK-based publishing administrator Sentric Music Group have renewed their partnership.
TuneCore says that the deal allows it to use Sentric’s technology and direct global collection network to “increase revenue opportunities for TuneCore publishing songwriters”.
The renewal comes a year after Sentric Music Group was acquired by Switzerland-headquartered fintech company Utopia Music, with Sentric founder Chris Meehan joining Utopia as Vice President of Royalty Management Services.
The renewal coincides with an expansion of TuneCore’s services. Through the original partnership, forged in 2018, TuneCore artists are able to submit unlimited songs for a one-time $75 set-up fee and a 15% commission and optional sync service.
TuneCore says the renewal now deepens its partnership with Sentric, and allows it ‘to offer songwriters more flexibility, advances, and a new high-end publishing interface”.
Through the partnership with Sentric, TuneCore offers songwriters membership to all available global performance and mechanical royalty societies.
Since its inception in 2012, TuneCore says that its Publishing Administration service has paid over $100 million to songwriters. The company says that more than 80% of its total publishing revenue was collected since partnering with Sentric in 2018.
TuneCore also reports that 2022 marked its 10th consecutive year of 20% or greater YoY growth in gross publishing revenue, and that international sources accounted for over 40% of royalties paid to artists in 2022, compared to less than 10% in 2019.
In December 8, the company revealed that it had paid out $3 billion in royalties to artists since it was founded in 2006.
That payout figure marked a $500 million increase versus the previous payout update provided by the company, which was $2.5 billion, in April.
“Our longstanding partnership shows a commitment to the sector and we will continue to elevate our services, technology and network to ensure this continues.”
Chris Meehan, Sentric Music Group
Chris Meehan, Founder of Sentric Music Group said: “We are delighted to have been able to enable TuneCore to service the market of independent artists both with domestic and international payments over the last 5 years.
“Our longstanding partnership shows a commitment to the sector and we will continue to elevate our services, technology and network to ensure this continues.”
“TuneCore’s partnership with Sentric has allowed us to better serve independent songwriters and put more of their hard-earned money in their pockets.”
Andreea Gleeson, TuneCore
Andreea Gleeson, CEO, of TuneCore said: “TuneCore’s partnership with Sentric has allowed us to better serve independent songwriters and put more of their hard-earned money in their pockets.
“We’re excited to renew our partnership and continue providing our artists with the resources they need to develop and sustain their careers long-term.”
“At TuneCore our mission is to educate and empower them so that they don’t lose what is rightfully theirs, and our expanded partnership with Sentric ensures that we are able to help them claim more of their money than ever before.”
Chris Dampier, TuneCore
Chris Dampier, Vice President, TuneCore Publishing added: “Self-released songwriters are the most underserved community in the music business.
“At TuneCore our mission is to educate and empower them so that they don’t lose what is rightfully theirs, and our expanded partnership with Sentric ensures that we are able to help them claim more of their money than ever before.”Music Business Worldwide
