Streem strikes new licensing deal as rivals ‘bicker’ in court
Media monitoring company Streem has struck a new licensing deal, which it says recognises the value of premium Australian news.
Media monitoring company Streem has struck a new licensing deal, which it says recognises the value of premium Australian news, as its two bigger rivals Isentia and Meltwater seek a cut in copyright fees.
The multi-year licensing agreement with not-for-profit organisation Copyright Agency, which represents hundreds of publishers including News Corp, Nine Entertainment and Seven West Media, gives Streem access to more than 2000 publications for its corporate and government clients locally and abroad.
Streem chief executive Elgar Welch says the new deal is a “win-win for both the publishers and media monitoring customers”.
“It’s a multi-year agreement that was reached by negotiation, and that’s always better than being in a court environment,” he said. “And frankly, it beggars belief that Meltwater and Isentia are still bickering over the price of content in court.”
Streem’s deal comes as Isentia and Meltwater, the nation’s two biggest media monitoring companies, prepare to return to the Copyright Tribunal on Monday after an abrupt adjournment last Wednesday. The case only got under way last Monday and is expected to run for three weeks.
ASX-listed Isentia and US-based Meltwater want a reduction in the fees they pay for the use of news content after failing to strike a new deal with the Copyright Agency. In April, the Copyright Tribunal rejected Isentia’s application to reduce its interim copyright fees to the same fees that Meltwater is paying.
Copyright Agency CEO Adam Suckling said the Streem deal was a “huge win for Australian journalism, at a time when media business models face challenges”.
“This agreement positions Australia at the forefront of capturing payment for digital use of content and ensuring that publishers are fairly remunerated for their work,” he said.
Under the new Streem agreement, an undisclosed percentage of the Sydney-based group’s revenue will go to media companies for the use of their stories and images by its clients.
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