New Internet Media Nordic
Part of the New Internet Media Group
New Internet Media Group
The holding company holds all Intellectual Property, trademarks, ideas and software rights as well as owns and controls the commercial companies in the New Internet Media Group.
Keeper of all source code, IPR and trademarks.
Licensing source code to “Not-for-profit” partners like IMCA with CopyrightCoins
Support and community for all partners like Internet Music etc.
Some examples of partnerships
However, as the digital age is taking hold and more and as more royalties are paid from online and digital services, the member numbers are starting to decline.
Which is why GASP has decided to offer their members a full package of “More money, faster – for Copyright owners.”
For a lower administration fee than most competing collecting societies, GASP is handling all digital and online royalties’ payment (typically 5-9% administration fee)
In effect, NIMs WLCM and the MaaS (Music as a Service) can make sure the royalty for a song played via a DSP is paid to the account (wallet) of the Copyright owners before the song has ended.
This pay-out of royalties is made possible by retracting all digital rights from (for instance) GEMA and placing them at GASP. Exclusive administration rights give GASP the opportunity to offer advances against the flow of royalties.
The copyright owners are providing GASP with proof of royalties flow for the last five years. GASP will then be advancing CopyrightCoins (CCIM) or Euro or both (through IMCA – the governance body of CCIM) to the writers of music for this exclusive administration right.
All existing GEMA registration is pulled from the database and automatically registered on the CopyrightChains sub-chain CopyrightShares in a batch job and presented as GASP own service solution (see an example of this under Existing Independent music publisher below).
This new service is proven very popular among the existing members of GASP, and new members are joining up from all over the world.
All their work will be registered on CopyrightShares (sub-chain of CopyrightChains) with each creator registered with the agreed share on the CopyrightShares sub-chain.
There is no public trading of musical works (secondary market), so no DEX is included. The company has an experienced staff of WordPress bloggers, so it is decided that most of the companies presentations are done within the WordPress user interface.
The NIM WLCM creates a new website that is more than 50 times faster and still primarily maintained under WordPress. At the same time allowing existing creators and new creators that the company has signed up to register their musical work directly together with the CCIM wallet (account) so royalties are paid directly to the creator(s).
There is a showcase of music samples for any artist that is seeking a song to record.
When signing up for the NIM WLCM, they are giving NIM and the Music as a Service (MaaS) an exclusive administration right for the next ten years.
The company provides NIM with proof of royalties flow for the last five years with an average of 750 000 Euro per year. NIM is advancing 7.5 million CopyrightCoins (CCIM) (through IMCA) to the company for the exclusive administration right with security in the royalties flow.
All existing STIM registrations is pulled from the database and automatically registered on the CopyrightChains sub-chain CopyrightShares in a batch job.
However, due to the delay in the legal withdrawal of digital rights from STIMc direct royalties flow will not commence until the 3rd quarter of 2020. In the meantime, all payouts from STIM goes to an escrow account. During the first two quarters of 2020 a total of 687 900 Euro in royalties are paid into the escrow account. The exchange rate of CCIM to Euro is at that time 1.97 Euro per CCIM.
So, the publishing company are exchanging 685 000 CCIM for a total of 1,306,980 Euro (1,349,450 minus transaction fee and bank fee for CCIM/Euro exchange). The publishing company has made a net exchange profit of 621,980 Euro.
The CCIM is stable at 1 CCIM = 1 Euro basis, and 685 000 CCIM are back in the IMCA care to be used in another advance scenario.
The publishing company is also frequently trading copyright shares as a way of funding new catalogue acquisition which has often proved both costly and cumbersome with a cloud of lawyers involved. Since the publishing company is Swedish, the Swedish parliament recently passed a law that Copyright registration (musical works and recordings alike) is regulated under the Swedish stock exchange laws as a secondary market (NB! It’s a fictive scenario, the law has not been passed (– yet)).
The NIM WLCM is, therefore, able to set up a white labelled DEX for trading in only the publishing companies own copyrights and shares.
The company’s Copyrights and shares are also available for the general public to trade on the standard exchanges supported by the CopyrightChains.
The company has set up a showcase site for any artist is seeking a song for a new recording.
The programmatic business model favours profit margin over turnover.
All new recordings are registered directly on the CopyrightChains sub-chain CopyrightShares, and all royalties are paid in CopyrightCoins (CCIM).
To maximise cash flow, of all the shares registered on the CopyrightShares sub-chain 25% are always publicly available to boost viral marketing and to raise fiat money (Euro) to pay recording, producers, studio musicians, video crew, studio rent and marketing.
Recording and release.
After finding a new song at the music publisher and selected an artist to record the song the music label register the song on the CopyrightChains sub-chain CopyrightShares. Registration of the recording is done with 63% of the shares to the music label, 25% is offered to fans in crowdfunding and 12% of the shares to the Independent Music Publisher. The released track itself is loaded into NIMs MaaS (Music as a Service) for distribution to DSPs.
All royalties are now sent directly to the music label’s wallet as well as the 25% that are bought by external fans and investors plus 12% for the musical work. The 63 % that are sent to the labels’ wallet is distributed internally to the artist according to existing contractual agreements.
After finding a new song at the music publisher and selected an artist to record the song the music label register the song on the CopyrightChains sub-chain CopyrightShares. Registration of the recording is done with 88% of the shares to the music label and 12% of the shares to the Independent Music Publisher before release and marketing. The released track itself is loaded up to the Orchard for distribution to DSPs.
However, that does not take advantage of the CopyrightCoins payment service of royalties, and the cost for distribution through the Orchard is on the wrong side of 15%.
Consequently, the management decides to transfer the old website to the new site and take advantage of the CopyrightChains ecosystem to offer their recordings to the DSPs through NIM and the MaaS.
The challenge is that all metadata for the existing recordings is recorded on a spreadsheet indexed on ISRC ’s. This is not a problem for the NIM WLCM as the ISRC’s are mapped to the hash address registered on the CopyrightChains and imported into a distributed database.
All royalties are now sent to the music labels wallet (except the musical work) and distributed internally to the artist according to existing contractual agreements.