Jaxsta Limited (ASX: JXT), renowned for being the world's largest official music credits database, has achieved a significant breakthrough by securing a pivotal agreement with the Mechanical Licensing Collective (MLC), a nonprofit entity established under the Music Modernization Act of 2018. This milestone collaboration stems from the successful deployment of Jaxsta's Recording Clustering Proof of Concept (PoC). The MLC, responsible for issuing comprehensive mechanical licenses to prominent streaming services like Spotify, Apple Music, Amazon Music, and Tidal, has chosen Jaxsta's services, highlighting the company's prowess in handling substantial data volumes similar to the MLC's operations.
The contract reflects the MLC's dedication to ensuring precise distribution of royalties to rightsholders. The arrangement encompasses an initial setup fee to transition PoC functionality into a live environment and a tiered monthly pricing structure, adaptable to the MLC's needs. While the exact contract value remains indeterminate due to usage variations, Jaxsta commits to providing updates on revenue progress.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
