The International Confederation of Societies of Authors and Composers (SIZAK) enlisted the help of the Spanish Point Technologies company to update the ISWC (International Standard Code of Musical Works) global information system.
The ISWC system is a key tool for the successful functioning of the digital music market. It allows you to effectively provide millions of authors with fair payment for their work. The source notes a 164% increase in digital service royalty collection over the past five years, reaching 1 billion Euros in 2017. Today, the Spotify and Apple Music platforms represent more than 40 million musical compositions, and ISWC codes are the basis for effective identification, collection and distribution of digital royalties.
During its existence, the ISWC system was updated several times. The latest updates were carried out in 2018 together with the long-standing partner of SIZAK — FastTrack. The new collaboration with Spanish Point Technologies is unique in its kind. As SIZAK explains, improvements to the system will speed up the process of appropriating ISWC codes by authors’ societies for use by digital service providers and publishers.
The International Confederation of Societies of Authors and Composers (SIZAC) is a non-profit organization that has established a platform for communication and cooperation between copyright societies.
Source: www.sisac.org