Round Hill Announces Sound Hill21 February 2021 - Press release
New Neighboring Rights Division Launched
Round Hill Music has announced the launch of Sound Hill, a new division which will provide artists, session musicians, producers, engineers, mixers and owners of master recordings a highly efficient service to collect worldwide neighboring rights.
Round Hill has been collecting its own label share of neighboring rights since 2015 and the launch of Sound Hill is in recognition that this is one of the music industry’s fastest-growing revenue streams. The company already has a wide-ranging and diverse roster of acquisitions & administration deals in the neighboring rights sector, which has seen growth of on average 7% a year and is now generating approximately $2.6 billion annually. Soundexchange, the collection society for these rights in the U.S., and Sound Hill’s namesake, generates a large portion of the that number.
Sound Hill will be overseen by Robert Brenner, Manager of Royalty Services and Label Operations at Round Hill. His team will be responsible for ensuring each artist’s repertoire is registered accurately with neighboring rights societies worldwide, tracking international income, and optimizing data.
A key part of Sound Hill’s offering will be the provision of royalty financing for neighboring rights. The company aims to pay cash for a full or partial acquisition of these rights, or cash advances in exchange for long term administration rights with a pre-determined commission on the royalties collected. Sound Hill views this as a potential lifeline for touring artists who may require financing to tide them over during the ongoing COVID-19 crisis.
Robert Brenner said, “Round Hill has been collecting its own label share of neighboring rights for many years and the launch of Sound Hill acknowledges that this is an area where our company can provide real value to artists and others who need a highly efficient collection service alongside royalty financing.”
Josh Gruss, CEO of Round Hill said, “We are always looking to offer more services to our artists and Sound Hill will give us the ability to provide them and others with a world class service run by an amazing team who have the experience and expertise to maximize the huge opportunities now available in this fast-growing space.”