ASCAP and SACEM Team Up for Global Music Licensing

In a surprising move, two big music licensing companies, ASCAP and SACEM, have joined forces to strengthen their reach and capabilities. This new alliance will let them work together to collect money from streaming services in more countries around the world, especially in Europe, the Middle East, Africa, and now expanding into Asia. They'll also dive into advanced technology, using AI to improve the way songwriters are compensated and supported. This joint effort comes as competition in the music licensing world heats up globally, with societies like ICE, a European joint venture, vying for the same rights. The partnership between ASCAP and SACEM allows them to share resources and expertise, which can be expensive and complex in today's fast-changing digital world. Plus, it'll help songwriters collaborate better through events like songwriting camps.This alliance is not just about cutting deals; it's about looking ahead to where the music industry is going. Both ASCAP and SACEM leaders, Elizabeth Matthews and Cécile Rap-Veber, have built a strong bond, leading their teams to this new chapter. As they plan for the future, they're aware that even smaller markets will play a big part in the industry's growth over the next decade. This new deal is a smart step to stay ahead in a competitive landscape.