New Synchtank report exposes the disjointed processes behind sync clearance and identifies solutions to key challenges facing music users.
Kate Bush’s Stranger Things placement is, undoubtedly, the sync success story of 2022, shining the spotlight on a sector that is booming thanks to an explosion in new channels and platforms unlocking new opportunities for music. US sync revenue for recorded music alone was up 29.9% YoY in the first half of this year, according to the RIAA.
Less well documented are the processes behind the scenes that make these deals happen, which typically involve a fiendish mass of complexities. This is the focus of a new Synchtank report, which explores the challenges associated with clearing, tracking, and reporting on music rights, and identifies the solutions available to improve efficiencies.
Key insights include:
- With more channels and platforms in more territories, the complexities of global licensing are causing major headaches for music users, as are the varying rules around how and where music can be used.
- A lack of transparency around rights ownership has made clearance much more challenging. Meanwhile, tracking large volumes of license requests and deals is a laborious process involving multiple stakeholders.
- Music users are typically using a patchwork of tools that were not designed for these complex workflows. An overreliance on spreadsheets and a lack of centralization is leading to inefficiencies and compliance risks.
- Tackling these challenges can be handled by centralizing and integrating interoperable systems, streamlining clearance workflows, and creating a single source of truth for rights and contracts across departments.
