Siae says goodbye to monopoly. Soundreef lands on the Italian copyright market, a startup that will compete with the Italian Society of Authors and Publishers. As? By entrusting the collection of the copyrights of its artists to Lea (Liberi editori authors), a new non-profit association made up of a series of Italian authors, publishers and professionals in the music sector.
In this way Soundreef has in fact circumvented the new national law, which has only partially liberalized the copyright market by allowing entry only to non-profit collecting societies.
“Today the Siae monopoly, which no longer exists, is definitively collapsing: it was a very long struggle that started in 2011 with 85 thousand euros in funding and by a very small group of people. From today, a private company like Soundreef will work in full legality”, said Davide D'Atri, CEO of Soundreef, during a press conference in Rome. “Since 2016, over 11 Italian authors have signed up for Soundreef. We will work in Italy together with the non-profit association Lea (Liberi Editori Autori), recently established by a group of authors, publishers and professionals. The fiscal decree linked to the Stability Law says that it is possible to work in competition with Siae from January XNUMXst, Lea is already operational and collects royalties on our behalf”.
Soundreef manages the rights of 11 Italian authors, including Fedez, J-Ax, Gigi D'Alessio and Enrico Ruggeri.
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Siae commented in a note, expressing “bewilderment at what emerged today during the press conference organized by Soundreef to announce the agreement with Lea. The collective management of copyright is a serious subject, the result of years of battles conducted by authors and publishers for their ever greater protection. We have never seen an organization of authors and publishers "remote controlled" by a profit-making company, which does not respect the transparency, controls and obligations imposed by law. The protection of copyright is not an activity that is improvised with a non-profit association created ad hoc, in clear conflict of interest - of which Soundreef is a customer and supplier - and chaired by a director of Soundreef itself. For this reason we are sure that the institutions and the responsible authorities will verify this evident fiction".
