Facebook began reaching out to license their works in Q1 2018. Songtrust has entered into a 2 year license with them which is an initial testing phase as they build up their systems and ends on March 12, 2020.
This initial payment is based on our market share at the time and will be distributed to our clients.
They have announced that they are building more sophisticated content management systems. We estimate that to begin to roll out in middle to late 2019 and beyond to coincide with new licensing schemes in 2020 and beyond.
We are actively working with Facebook to ensure we can maximize Songtrust client royalties in the future.