Australian music technology company Jaxsta (ASX: JXT) has signed a maiden $25,000 commercial subscription deal with Australia’s oldest copyright collection agency which will allow songwriters, composers and music publishers to enhance their careers and revenue streams.
The company announced today that the Australasian Performing Right Association and Australasian Mechanical Copyright Owners Society (APRA AMCOS) had purchased 270 subscriptions to its Jaxsta Pro product for staff and corporate ambassadors.
APRA AMCOS will also work with Jaxsta over the next 12 months on a co-ordinated education campaign and reduced-price subscription offer to reach its 100,000 agency members.
Jaxsta chief executive officer and co-founder Jacqui Louez Schoorl said the milestone deal signified the start of a push to partner with similar organisations for enterprise subscription agreements, member education campaigns and member sign-up offers.
“Partnering with APRA AMCOS is a strategic push to commercialise Jaxsta Pro and work with other organisations to offer large subscription-based deals to their members,” she said.
“Members can fully harness the capability of Jaxsta Pro as a collaboration, career networking and revenue development tool and the deal verifies [our status] as the world’s official data source for music credits.”
APRA AMCOS is Australia’s oldest copyright collection agency, which licences organisations to play, perform, copy, record or make available members’ music, and distributes royalties to its members.
Jaxsta Pro is designed to empower songwriters and composers to present their work and achievements accurately and with credibility to the music industry and broader public, worldwide.
“Giving credit where credit is due is [a saying which] resonates with APRA AMCOS members who often work behind-the-scenes,” Ms Schoorl said.
“Jaxsta Pro will serve as a networking tool and connection point to new professional opportunities across the industry.”
Jaxsta’s subscription deal with APRA AMCOS follows a two-year commercial data access agreement signed with Warner Music Inc in March, which will allow Jaxsta to use Warner’s data worldwide on a central music database known as Jaxsta Platform.
At midday, shares in Jaxsta were trading 23.33% higher at $0.185.