National Performing Rights Exchange

Headquartered in Nashville, Tennessee and founded by a team of economists, technologists, lawyers, and music industry professionals from major music licensing organizations, NPREX, LLC operates the National Performing Rights Exchange, or NPREX. Not a PRO, NPREX is a trading platform that automates the execution and settlement of direct licensing transactions for all types of music licenses. A matching algorithm automates the execution of direct transactions, and a pricing algorithm automates the settlement of direct transactions. The pricing algorithm is a mathematical framework that provides a single price mechanism that enables buyers and sellers of all types of music licenses to transact with one another at well-informed prices. This technology enables NPREX to charge minimal transaction costs - a tiny fraction of the fees typically taken by licensing intermediaries or societies. A sophisticated free- market for music licensing transactions, NPREX is ushering in a new paradigm in music licensing informed by advances in economics, mechanism design and computer science that create unprecedented efficiencies and transparency for both music owners and music users.