Trump Signs Music Law Favoring Independent Artists

US president Donald Trump recently signed a “sweeping” piece of legislation which is expected to better compensate independent artists for streaming.

 

Under the new Music Modernization Act (MMA), royalties will be allocated to music producers, and artists will receive royalties for songs recorded before 1972. The legislation will also ensure that rights-holders are paid more efficiently, creates the Music Licensing Collective, an organization that is slated to start collecting and distributing royalties starting in 2021.

 

Experts have said that indie artists are often underpaid and their contributions to the music industry are frequently overlooked. The Worldwide Independent Network (WIN) recently showed that independent labels generated over $6 billion in sales in 2016, accounting for 38 percent of the global market for recorded music.

 

 

Source: CNBC