June 8 (Bloomberg) -- Fintage House BV, the performance collection agency of Elvis Presley, and Rights Agency Ltd., which counts Paul McCartney among its clients, formed a venture to capture artist royalties.
Fintage House, based in the Netherlands, and London-based Rights Agency Ltd. will combine their operations that collect money for recording artists when their music is played on radio, television and other formats, the companies said today in an e-mailed statement. Financial terms of the deal, which includes cost-sharing on technology upgrades, weren’t disclosed.
Income from the radio play and other commercial uses has become more important to artists in the past decade as album sales have declined. The closely held companies said the deal gives clients of both access to a shared global collections network and more efficiency.
“We invested in RAL because we believe together we can achieve more for our clients on a global scale,” Niels Teves, co-Chief Executive Officer of Fintage House, said in the statement. “Our clients are traditionally from the U.S., Canada and continental Europe, while the clients of RAL are primarily from the U.K. Collectively, our client base is worldwide.”
RAL clients include Phil Collins, Celine Dion, Eric Clapton and Pet Shop Boys, according to the statement. Fintage House’s roster includes Britney Spears, Foo Fighters, Jason Mraz and The Black Eyed Peas.
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