Turntable.fm in with the Big Guys
After months of running Turntable.fm with no contracts, major record labels are finally signing contracts to license the site for playing rights.
Turntable.fm was introduced to the public with a big bang—music aficionados took it in faster than almost any other music-hosting site. Initial fears of the site not withstanding legal troubles lead them to signing with the American Society of Composers, Authors, and Publishers, which gave them some temporary royalty stability. However, record labels have seen the benefits that Turntable.fm have supplied their business, and are starting to work with them.
Labels such as EMI, Universal Music Group, and Sony have all signed agreements with the site so far, and Warner Music Group isn’t far behind. Once all the labels are signed with Turntable.fm, the website, as well as music downloads, will be able to run more smoothly. At the moment, there is only a certain amount of songs that DJs can choose from in the MediaNet library, but once contracts are signed, well-known artists will be able to make the DJ’s “sets” and a broader, larger audience will be reached.
Turntable.fm’s audience is rapidly growing as a result of more mainstream DJs reaching out to listeners, which is exactly what the site needs if it wants to continue running. All Turntable accounts are free, and the site has no advertisements, and therefore there is little money being circulated in servicing costs. With a larger audience and more networking, the site will be able to withstand big companies bombarding them with legality issues.