Google has signed a multi-year licensing deal with Toronto’s LyricFind that will result in a new revenue stream for publishers and songwriters, as song lyrics will be displayed in search results.
LyricFind was founded in 2004 and was among the first companies to see an opportunity in legitimising and monetising online lyrics.
The deal is a plus for Google as it will enable the search giant to capture a significant amount of traffic around lyrics in tandem with its Google Play music service.
LyricFind works with more than 4,000 music publishers and online services across 100 countries. It works with brands such as Deezer and Amazon, which display lyrics synchronized to songs as they play.
LyricFind collects new royalties for songwriters and rightsholders, and benefits music fans who engage more easily than ever with lyrics that inspire them.
Behind the scenes, LyricFind tracks, reports, and pays royalties to publishers on a song-by-song and territory-by-territory basis.
“We’re happy to expand the depth and quality of lyrics available on Google’s services,” says LyricFind CEO Darryl Ballantyne.
“We’re working together to make lyrics available to a larger audience in a faster and more efficient way.”
Music composer image via Shutterstock