Photo: Loudr
Loudr has launched a new service called Loudr Licensing, which will allow artists and labels to easily get all of the proper licensing needed to monetize cover songs.
For a flat service fee of $15, along with the cost of royalties, the service will obtain a mechanical license – which never expires – so that artists and labels can make money off of cover songs via music services such as Spotify, iTunes Google Play and Bandcamp. The licenses received via Loudr will allow users to release digital downloads, interactive streaming, ringtones and physical releases, such as CDs and vinyls.
Loudr’s co-founder and CEO Chris Crawford told Billboard: "With the launch of this product we're rebranding as a rights company. Our vision is to produce accessible technology for people that need rights. We want the Loudr name to be associated with rights. You come to Loudr to get rights."
Prior to the launch of Loudr Licensing, there were only a handful of ways for independent artists to easily and legally release cover songs. One way was to purchase a mechanical license from the Harry Fox Agency, but they are increasing the rate from 8.5 percent to 11.5 percent on April 20. Artists could also purchase a license from Limelight, which was acquired by Google in 2011, but they will no longer be providing mechanical licenses as of March 31, and all licenses will be unavailable after June 30.
