New distribution plan for press publishers has been agreed upon
Extensive consideration of quality criteria for distribution. Significant rights portfolio expansion after numerous new collection agreements are signed.
Following the unanimous vote by its Supervisory Board, Corint Media’s shareholders’ meeting has now also approved a new distribution plan for the proceeds from ancillary rights for press publishers. The key new feature is the inclusion of press-specific performance criteria in the distribution key. By giving IVW-certified* criteria more weighting, the importance of an established and plural press landscape deserving of protection has been taken into account.
In future, the distribution plan will be divided into five budgets: two will be disbursed according to the online reach of the respective service, and another two, according to a system based on the number of copies sold and the retail price of an issue. In addition, two per cent of the revenue generated will continue to be equally distributed among all eligible Corint Media press publishers who sign a collection agreement.
Since the new ancillary rights for press publishers has come into force, numerous press publishers have also expressed an interest in allowing Corint Media to exercise their rights. Corint Media is confident that it will be able to manage the rights of more than 300 services in the future which represents a majority of the market.
Markus Runde and Christoph Schwennicke, joint Managing Directors of Corint Media, had the following to say:“After intense discussions about the correct parameters, an excellent compromise has been found for the new regulations that does justice to the market. This is the cornerstone for fair distribution. In addition to the collection agreement, this is also the basis of rights management. Together with a significantly strengthened rights portfolio, and now that the contract with UPDAY, Europe’s largest news app, has been signed, we will continue negotiations with the major platforms of Google, Facebook, Microsoft and other exploiters of rights to ensure appropriate remuneration for the use of digital publishing content.”
*Die Informationsgemeinschaft zur Feststellung der Verbreitung von Werbeträgern e.V. (German Audit Bureau of Circulation)