PRS for Music, STIM and GEMA have signed completion documents to launch the world’s first fully integrated multi-territory music licensing and processing hub covering European territories.

The move follows the European Commission’s competition clearance in June, following an investigation of the European online music market.

The hub, powered by the authoritative copyright database, ICE, and new processing, finance and business intelligence systems, is said to increase the speed, accuracy and efficiency of music matching and invoicing to ensure that ...