This morning is the big unveiling for a new version of the ‘ISWC’ system of codes identifying music works, which global collecting societies body Cisac says will “improve the accuracy, speed and efficiency of societies’ work in tracking creators’ works and paying royalties”.
The new system has been in development since early 2018, and while the official launch is today, more than 100 collecting societies have already switched to the new system since its initial rollout in July this year. It’s about to go live for publishers and digital music services too.
“ISWC is one of the most important identifiers in the music industry and I ́m delighted that the upgrade is now completed and is being implemented across the sector,” said Cisac president Björn Ulvaeus. “It will track music works better and faster and help put more money more quickly into creators’ pockets. The key now is to make sure the system really does go global – it needs to be universally applied to bring the potential rewards it offers to all players”.