Songwriting Industry Disrupted by New Royalty-Free Lyrics Service
A Global Platform based out of Germany, PREMIUM LYRICS, has innovated a web platform that provides royalty-free song lyrics for musicians and composers. The web platform, which will go live tomorrow, has rendered the industry’s need to set aside large budgets for lyricists obsolete. PREMIUM LYRICS’ founder, musician and computer scientist, Dr. Christian Krauss makes the announcement.
Over the years, collaboration between musicians and lyricists has produced works that far exceed the creation of either musician or lyricist. Famous examples of co-writing teams are Bernie Taupin and Elton John, and the iconic duo Richard Rodgers and Oscar Hammerstein II; customarily, one party writes the lyrics and the other the music - as each focuses on his own specialization. Unfortunately, in the modern age of industry financial constraints (especially for independent/rising talent), it’s not easy to find affordable professional lyricists.
This is where the royalty-free lyrics library from PREMIUM LYRICS comes into play. The platform allows songwriters and musicians from across the globe to collaborate. The platform in essence provides 100 percent royalty-free song lyrics for musicians and composers, allowing them to find their desired lyrics by selecting a mood, language, or rhyming pattern. Users of the platform, in this case musicians, receive a license to use the lyrics depending upon their intended purpose – private use or professional environment. There is financial upside for the lyric writing community, however. Lyricists are afforded the opportunity to monetize their works by selling a license to their lyrics on the platform. Lyricists can have multiple licenses and also receive a royalty of the net revenue and commercial uses of the song lyrics received by PREMIUM LYRICS, who offers three (3) tiers of licensing options corresponding to rights purchased (stated in Euros for convenience - €5.95 for non-commercial use, €34.95 for commercial use with limited right of reproduction and €99.95 for commercial use with unlimited right of reproduction).
“It’s an innovative platform that has real potential to connect musicians and songwriters,” says David Toradze, one of the first lyricists on the platform, “I don’t recall ever seeing a website dedicated only towards a market of promoting lyricists and helping musicians find words to their compositions. I believe it’s a niche market, and Premium Lyrics has a great idea.”