Fonmix carried out the Russia's first digital transaction on assignment of rights on a track through the IPEX blockchain platform

2020: The translation of the Russia's first digital transaction on assignment of rights on a track through the IPEX platform

On September 14, 2020 it became known that FONMIX carried out the Russia's first digital transaction on assignment of rights on a track through the IPEX platform.

As it was explained, within the closed presentation of the exchange of intellectual property of IPEX the first digital transaction on assignment of rights on musical composition took place. In ten minutes the CEO of Soyuz studio Alexander Bochkov agreed on conditions and signed the license agreement with music service FONMIX on use in the marketing purposes of a track of this summer "For kicks" of Oleg Kenzov, having at once received payment under the agreement.

The presentation of the platform entering IPChain blockchain infrastructure took place in presence of top managers of leaders a record companies and country labels. The CEO of Warner Music Russia Alexander Blinov, the CEO of Sony Music in Russia Arina Dmitriyeva, the head of department of digital services Universal Music Russia Alexey Bryukhovetsky, the general producer of a musical label of Zhara Music Bakhtiar Aliyev, the CEO of "The first musical publishing house" Maria Oparina, the CEO of "National musical publishing house" Dmitry Mayko, the CEO of Soyuz studio Alexander Bochkov, the CEO of Soyuz Music Alexey Alyaev, the representative of United Music Group Sergey Propisnov, the CEO of CD Land Contact Yury Tseitlin and others became guests of an action.

The digital exchange IPEX opens possibilities for turnover of any kinds and forms of objects of corporate and individual creativity. The platform allows creators, owners and users of intellectual property (IP) to interact directly, without intermediaries and from every spot on the globe thanks to what they can use and monetize original content. For this IPEX provides different tools for work with IP: gives the chance to collect own collections and portfolios, to negotiate terms of transaction, to manage the assets in global market taking into account the legislation of the specific countries and many other things.

The digital IPEX platform was developed in cooperation with active market participants and taking into account their relevant wishes and requests.

For September, 2020 IPChain is a corporate blockchain for turnover of IP. But the musical industry in this plan is extremely pragmatic. Therefore for it the blockchain long time remained interesting, but not especially clear tool. Andrey Krichevsky, the president of IPChain Association explained

In more detail the functionality of the platform was provided during the first transaction held in time of the presentation. In only ten minutes the parties managed to expose the offer on a digital show-window, to settle terms, to sign and pay the license agreement – and all this online.

The digital IPEX platform allows to perform transactions not only with musical content, but also with different types of intellectual property – cinema, texts, trademarks and any other objects which are in turnover.

Representatives of labels and a record studios became audience not casually, the musical industry is one of the most active parts of the market of intellectual property. The last years the level of consumption of musical content grows. So, in Russia the volume of the Russian musical market at the end of 2018 was 596 million dollars that is 4.3% more than an indicator of 2019, – and, judging by forecasts, growth rates will not decrease the next five years. Streaming became the unconditional driver of development of the industry.

Exactly thanks to emergence of strimingovy platforms young musicians became more active to advance the creativity to wide audiences. In Russia 87% of consumption of music are the share of digital services – in comparison with a universal indicator in 61%. And though growth of revenue of strimingovy platforms in the Russian market steadily grows (in 2018 their income was 51 million dollars, is 48% more, than in the 2017th, and by 2023 will make 134 million dollars), it affects welfare of contractors little – problems of piracy, low assignments to authors are particularly acute from services and many others. For September, 2020 to monetize creativity online still is represented a task exigeant, and the beginning and little-known actors quite often should or sign unprofitable contracts with labels, or to try to protect independently the rights.

For example, we only the other day discussed with colleagues from "The European media group" of a possibility of use of musical pieces in podcasts. The IPEX exchange will just help the parties with such cases to communicate directly, to place requests for use of objects and in general to create the market and pricing on it. Maxim Dmitriyev, the chairman of the board of the Russian author's society noted