Just in case you’ve been sleeping under a rock, the AFB team is hear with a wake up call about how musicians get paid in the music industry. With the emergence of digital music royalties as an even bigger part of songwriter compensation, the Songwriter Equity Act seeks to level the playing field for songwriters, composers and publishers seeking fair compensation for their work. The new legislation is a bipartisan bill intended to amend two outdated portions of the U.S. Copyright Act. This amendment would allow a “rate court” to consider other royalty rates as evidence when establishing digital performance rates for songwriters and composers, and it would adapt a fair rate standard for reproduction (mechanical licenses).
If passed the songwriter equity act could have dynamic implications across the industry. The AFB team and the rest of music world will be closely watching this bill’s progress. For more information and details about the Songwriter Equity Act, visit ASCAP’s website.