TuneWiki is the first VC backed company attempting a profitable, legal exploitation of lyrics. The absolute majority of internet based lyrics are illegal and not licensed, hence generating very little income for publishers and writers. We would like to change that. We bring lyrics to the place they need to be: a click away from the actual song playback.
TuneWiki is extending a worldwide effort to license lyrics for our services. We signed agreements, or have agreements in principal, with the "big-4" publishers for exploitation of their catalogs, and with Harry Fox Agency on behalf of opt-in publishers, for USA. We now extend our sights for worldwide societies and publishers and the catalogs they can license. We are aware that lyrics are not usually licensed by PROs, so we are asking for any and all help in generating publishers' awareness and participation in this effort.
We are now offering our standard revenue share agreement to all international publishers and rights societies on behalf of lyrics owners. Our business model is very simple: we will generate substantial income from several resources (advertising, subscription, merchandizing and sponsorship), and regardless of the actual usage of lyrics in each revenue source, we will allocate percentage of our total gross income, excluding only our own intellectual property (software, patents) and music sales (publishers are already been compensated for that).
We will distribute the royalties according to the actual usage of lyrics. We record every viewing event and will have the ability to identify on a worldwide basis, where each viewing event took place and what lyrics were viewed.
