The United States Copyright Office (USCO) has the PRO market in its crosshairs.
In February, the USCO launched a significant inquiry into the Performance Rights sector aimed at exploring “questions related to the increase in the number of PROs and the licensing revenue distribution practices of PROs”.
The modern US business now counts six PROs, including the ‘traditional’ organizations (ASCAP, BMI, and SESAC) alongside three newer entrants: Global Music Rights (founded in 2013), PRO Music Rights (2018), and AllTrack (2019).
The launch of the PRO inquiry follows significant activity in the US PRO landscape in recent months, including the news of GMR’s majority acquisition by US-based private equity company Hellman & Friedman, valuing it at USD $3.3 billion. Blackstone was also reported in January to be exploring a potential $3 billion+ sale of SESAC.
As part of the investigation, the USCO launched a call for written submissions from the public, with a deadline of Friday last week (April 11). ASCAP, BMI, GMR, and SESAC all responded at length.
