Berklee College of Music’s Institute for Creative Entrepreneurship (BerkleeICE) today announced an ambitious Open Music Initiative (OMI) designed to simplify the way that music creators and rights owners are identified and compensated. It will combine BerkleeICE’s expertise in the music industry with the MIT Media Lab’s expertise in decentralized platforms to to develop an open source framework for music rights and their associated uses in all media forms.
In layman’s terms, OMI doesn’t want to create a centralized database of music; but rather a standardized way of tagging and identifying music and rightsholders so that various databases can communicate with each other and verify information. Better tracking means more money for artists, labels and publishers.
Source: Berklee Launches Ambitious Open Music Initiative, Majors Labels and Top Music Streamers Sign On – hypebot
