Today the MMA or Music Modernization Act was signed into law. Afters years of hard work, lobbying and many conversations industry leaders, companies and legislators have finally completed a monumental task of bringing our current music laws up to date with today’s digital marketplace.
Of course there are many details that need to be worked out such as how songs will be matched with their digital versions and who will handle this gargantuan task but the fact that most of the parties involved could come together to make this legislation happen speaks to how antiquated the old laws were.
The bill updates Section 115 of the U.S. Copyright Act and under the new law:
- It will be easier for rights holders to get paid when their music is streamed online
- Artists who were on recordings before 1972 will be more fairly compensated under the The Compensating Legacy Artists for their Songs, Service, & Important Contributions to Society (CLASSICS) Act
- Royalty payments will now include producers and engineers with The Allocation for Music Producers (AMP) Act. SoundExchange pays producers and engineers when their recordings are used on satellite and online radio.
It remains to be seen when artists will see a reflection of these new changes in their royalty payments but hopefully artists will see larger checks and deposits in their bank accounts in the upcoming quarterly payouts.