MetroLyrics makes $10 Million per year on lyrics... legally

Posted by Rob Lewis

Great article in the New York Times yesterday titled Lyrics Sites at Centre of Fight Over Royalties about the ubiquity of song lyrics on the web and Vancouver's own MetroLyrics.com.

Techvibes has been covering MetroLyrics.com and it's parent company MetroLeap Media for over two years and we've seen plenty of changes over the years. The most important being the day MetroLeap signed a deal with Gracenote, allowing them to publish lyrics legally on their site.

The New York Times weekend piece describes the opportunities and problems for songwriters and their publishers and interviews MetroLeap Founder Milun Tesovic about his decision to pay royalties for use of the lyrics.

Mr. Tesovic said he had always wanted to use the lyrics legally and had approached publishers about getting the rights. But it wasn’t until 2008, when MetroLyrics signed a deal with Gracenote, that legal lyrics appeared on the site.

“It’s either right or it’s wrong, and it felt wrong to not compensate the writers,” he said. “Publishers knew that when they were ready, we were ready.”

In the last two years, the music publishers association has reached out to 95 sites that carried unlicensed material, nine of which then obtained licenses, while 31 shut.

Looks like Tesovic and his team made the right decision. According to the New York Times article, MetroLyrics.com drew 13.5 million unique users in March 2010 and generated close to $10 Million in revenue in 2009.

MetroLeap Media is a perennial leader on our PEER 1 Canada Startup Index, employs 15 and is hiring.

Company:
CBS Interactive - Metrolyrics
Website:
http://www.metrolyrics.com
Location:
Vancouver, British Columbia, Canada

MetroLyrics is the premiere destination for song lyrics online, with a legal database of over 700,000 titles. MetroLyrics is the most popular lyrics website worldwide, boasting the most comprehensive database of legal lyrics in the world with over 700,000 titles. With a best-in-class design and first-to-market social media sharing features, MetroLyrics is the web's premiere lyrics site. more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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