Pioneer DJ's parent company AlphaTheta acquires 25% of DJ Monitor
It is interpreted as an important step that can accelerate the automatic transfer of royalties to PROs by closing huge data gap and ensuring producers are paid accurately
AlphaTheta Corporation has announced that it has acquired a 25% stake in DJ Monitor, a world leader in electronic music usage reporting.
AlphaTheta manufactures and sells products from Pioneer DJ and its associated brands, including KUVO, a service which launched in 2014 which aimed to assist with the fairer distribution of royalties to electronic music creators and rightholders around the world. As KUVO has evolved, AlphaTheta has sought new ways to enable the industry to improve royalty distribution, and the investment in DJ Monitor shows a commitment to supporting this cause.
Through this strategic partnership, two companies will share technology and work together to strive for fair distribution of royalties to electronic music creators.
In a press release, AlphaTheta’s CEO, Yoshinori Kataoka says: “Music creators are at the core of the electronic music community, so it’s absolutely vital that they get paid when their music is played publicly. Fair royalty distribution enables artists to keep making music that DJs want to play and audiences want to hear. At AlphaTheta Corporation, we’re passionate about using our technical expertise and global reach to support music creators. It’s a natural fit for us to partner with DJ Monitor, a company that shares our vision and determination to ensure artists are paid fairly. We look forward to working closely with them on the development of KUVO, among other exciting projects.”
The press release which also includes words by DJ Monitor’s founder and CEO, Yuri Dokter, reads: “Having pioneered club and event monitoring through music recognition technology since 2005, DJ Monitor has become the de facto standard for collective management organisations around the world, pushing transparency by providing auditable data. With club music embedded in our DNA, our partnership with AlphaTheta will create the most credible and robust system to maximise electronic music creator incomes.”
The purchase is interpreted as an important step that can accelerate the automatic transfer of royalties to performance rights organisations (PROs) by closing huge data gap and ensuring producers are paid accurately.