At a ceremony held at The White House in Washington earlier today (October 11th 2018), US President Donald Trump signed the Music Modernization Act into law, in what’s arguably the most high-profile event for the music industry in several years.
The bill itself is essentially intended to update music copyright law for the digital era, and in turn
close current loopholes within digital royalty laws.
Its main purposes are to make sure that songwriters and artists receive royalties on songs recorded before 1972, to allocate royalties for music producers, and to updating licensing and royalty rules for streaming services to pay rights-holders in a more streamlined fashion via a new and independent entity.
Though it’s a bill that’s in place within US law, many music creators will have a more reliable way of collecting the money that they’re due, which of course will feed into content created and shared to fans globally.
Both Mike Love and Kid Rock, two of Trump‘s most visible supporters within the music industry, were present at the signing. Kanye West was also due to meet Trump, but wasn’t present at the bill signing.
More news regarding the bill can be read over on The Rolling Stone website (here).
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