A new initiative from the Berklee College of Music’s Institute For Creative Entrepreneurship (BerkleeICE) to create an open-source platform to track music creators and rights owners has gained support from the major labels. The initiative is called the Open Music Initiative (OMI) which is a joint effort between BerkleeICE and the MIT Media Lab, and it aims to simplify the overly complex and confusing music royalties system currently in place.
Since being announced OMI has received support from many industry players like YouTube, Spotify, SoundCloud, SiriusXM, Netflix, and Pandora. OMI has also received support from music licensing startups such as CD Baby, Tunecore, and more. Now that OMI has the support of major labels like Universal Music, Sony Music, and Warner Music, most major players now have a seat on the table and hopefully can work together to bring the music industry into the 21st century.
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[Photo Credit: Berklee College of Music]