According to LyricFind’s Darryl Ballantyne, co-founder and CEO of the company which has found a way to monetize lyrics, they have so far established licensing and content relationships with over 3000 music publishers. “We’re licensing people all over the world,” reveals Ballantyne in the upcoming summer issue of Music Publisher Canada. “We’re active in 30 countries. We have licenses from the publishers that we’re representing for millions of tracks in multiple different languages and it’s just getting bigger and bigger. The people that come to us are those previously unlicensed lyric sites that have been around for a while, music services like Pandora or iHeartRadio, cell phone manufacturers like HTC, Samsung and Nokia, apps, search engines – we license Microsoft for Bing – and on and one it goes. We even license Universal Music for their artist websites so we’re even powering the lyrics on Lady Gaga’s website.
“Looking back, the beauty of it for us was that it was one area that was not being monetized. There was nothing happening with lyrics and we were able to come in and make it found money because we weren’t cannibalizing any other revenue stream; we weren’t risking some other flow of money. We were creating an entirely new flow of money. Now we’re paying out millions of dollars a year for lyrics rights.”