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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Asia Pacific World MySpace bids to pay musicians 'lost' royalties AFP - Monday, January 25 Send IM Story Print Social networking site MySpace, which has enabled many artists to launch their careers, is now helping to pay them back millions of dollars in "lost" royalties for songs and performances. CANNES, France (AFP) - – Social networking site MySpace, which has enabled many artists to launch their careers, is now helping to pay them back millions of dollars in "lost" royalties for songs and performances. MySpace CEO Owen van Natta said Sunday the company had signed a ground-breaking deal with performance rights group SoundExchange to track down some 25,000 major, independent and unsigned artists owed more than 14 million dollars in unpaid royalties. "The money will be put into escrow as we search for the acts," he said at the opening of the MIDEM industry trade fair, his first speech outside the United States. Van Natta said he planned to use the MySpace platform to put the artists in touch with SoundExchange, a non-profit-making performance rights organisation that collects royalties for the streaming of music on Internet/satellite radio on behalf of sound recording copyright owners. The deal with MySpace opens up a new and effective way of contacting artists who are registered with MySpace but not with SoundExchange, the companies said in a press release. "It can be a challenge notifying and convincing artists to register with SoundExchange because they don't know they're entitled to these royalties, or believe it's too good to be true," said SoundExchange senior executive Bryan Calhoun. MySpace, which is part of Rupert Murdoch's News Corp. group, has grown into a music power house under the guidance of van Natta, who talked at MIDEM about how he and his team have worked to make it easier for users to find new music and share tracks. This has resulted in users creating over 180 million playlists on MySpace Music, which van Natta said is now the largest advertising-supported music business on the Web. MySpace, which has been going head-to-head with its closest competitors, Facebook, to become the most popular social networking space, has also launched the career of many musicians, including that of British-born sensation Lily Allen. Recommend Send IM Story Print Related Articles US-ENTERTAINMENT Summary Reuters - 1 hour 49 minutes ago "ER's" John Wells looks at layoffs in first film Reuters - 1 hour 49 minutes ago Nielsen: Big farewell 'Tonight' audience for Conan AP - 2 hours 13 minutes ago Rock attitude unifies diverse Paul Smith show AP - 2 hours 49 minutes ago MySpace bids to pay musicians 'lost' royalties AFP - Monday, January 25 News Search Top Stories Obama 'confident' of repeat Fed term for Bernanke Barclays Capital head 'slates Obama bank plan' Britain sceptical about US banking reform Glacier alarm 'regrettable error': UN climate head Bank 'sheriff' Obama hits hard in Europe: analysts More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Glacier alarm 'regrettable error': UN climate head Barclays Capital head 'slates Obama bank plan' Bank 'sheriff' Obama hits hard in Europe: analysts Britain sceptical about US banking reform Last decade warmest ever: NASA More Most Viewed » Woman who saved Anne Frank's diary dead at 100 Scientists praise Obama as Doomsday clock reset More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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