Friday, October 2, 2015

A Better Streaming Deal For US Artists ?

As of September 23 it seems that the major record companies and SAG-AFTRA have came to an agreement that will help artists out. The members of SAG-AFTRA who are about 160,000 members strong will now receive more benefits and possibly receive more cash from the labels streaming royalties. As I was reading this I became excited that this happened. I am a very strong supporter of Artist Rights especially when it comes down to paying artists their fair share for their art. SAG-AFTRA voted to ratify the Sound Recordings Code for online streaming and non-permanent digital downloads. Outside the US where artists may perform the money generated is covered. They separated certain allowances for label contributions to artists Health and Retirement savings. The labels involved Sony Music Entertainment , Warner Music Group, Capitol Records LLC and Hollywood Records Inc. and for SAG-AFTRA representing them were Dan Navarro, Jon Joyce, Janice Pendarvis, and Pat Alger. As reported by Music Business World Wide some benefits in the new contract included an overall increase to minimums of 2% each year of the contract, improvements to Health and Retirement contributions such as increases in cap of label payments for roster artist health insurance eligibility. The reason this move is such an important factor is because it will strike other sectors of the music industry to move and work together in fairness and transparency across the board for the artists. Streaming has taken control over the music industry. It is a new revenue stream that seems completely one sided. The labels and the technology companies are making money while the artists and other content creators are getting basically scraps. The music streaming business model needs a serious complete change. It is steps like the one that was taken a few days ago that will help bring a voice and change to the industry, so all may thrive.
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