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Pump Audio changes terms, still has major issues...

Got this from Pump Audio on May 8th, and followed up this week:



**************************************************************************

Dear Pump Audio Artist,

We would like to thank you for your music and congratulate you on being part of one of the fastest growing music licensing companies in the world. Since the acquisition of Pump Audio by Getty Images, we continue to hear praises from a wide expansion of our clients on the depth and quality of our catalog and that is a testament to you.

As we plan for the future growth of our offering to the global music licensing client base, we have determined that to fully support the 400+ person Getty Images sales staff and invest in marketing and technology needs that we must make adjustments to the current revenue split system. By making these changes, we intend to accelerate the pace of our growth and achieve our goal of becoming the largest music licensor in the world.

The new model will be as following:

1) Licensing fees will now be 35% to the artist, 65% to Pump Audio/Getty Images

2) This change will take place as of July 1, 2009. Any royalties payable through June 30, 2009 will not be affected by this change

3) Performance royalty splits will remain at 50% of the publisher’s share

4) Those that don’t accept the new split will have their music removed from the system no later than December 31, 2009.

5) The rights you granted to us in the original contract do not change


If you have any questions, please email artistrelations@pumpaudio.com.


Please sign the enclosed amendment and send back to Artist Relations.

************************************************************************

So I called my rep at Pump, certain that they'd at least TRY to justify this......

1. Nacia at Pump couldn't promise me the problems they've been having reconciling all of their databases (including, among other things: incorrect contact, PRO, and direct deposit info) are going to be fixed anytime soon. Even with all the new bodies, notice none are dedicated to admin...

2. She also informed me that Pump would now be giving their 'clients' UP TO A YEAR to report usage. Not pay, just report! So an artist could conceivably be waiting for 2+ years for payment if the bi-annual reporting didn't fall in one's favor.

3. I've also learned from another source that Pump are 15 months behind in registering their PRO info; another
say over 2 years.

I have music in the PumpBox and have gotten a placement, but after this and the forced addition of our content to iStockPhoto.com (without receiving the benefits that people who joined iStock of their own volition, natch), I'm beginning to wonder if I need to 'beat feet' and let my participation die a natural death - tho, recent opinion says that the prudent action would be to resign in writing.....

Thoughts?


Scott W. Hallgren

Owner/composer/producer
Scootman Music Productions
615.319.9556

www.scootmanmusic.com

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Comment by Scott W. Hallgren on July 8, 2009 at 10:00am
Rumblefish is the way to go!
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