For decades music industry laws have lagged behind addressing the norms of the 21st-century era. Music streaming and satellite radio platforms have been able to forego paying musicians and songwriters, to include their publishers, for the repeated use of their intellectual property.
But with the passage of the 2018 Music Modernization Act, a new entity, will play the role of licensing the use of your songs digitally and help ensure you are receiving fair payment (royalties) each time your song is played via an online streaming service and satellite radio. This means more compensation for all those countless hours in the studio for every artist and musician, every time your song is played. Among other things, songs written prior to 1972 also receive copyright protection and the new entity will establish a database system that makes it easier to track your songs’ information.
It’s been great watching key industry players (and rivals) coming together to support the creative community, especially given the influence music plays in our lives across the world today. While it is still too early to see the impact of this law in action, one speculation is you may notice certain streaming services will no longer be able to provide some of the songs you once had on your playlist.
What are your thoughts on the new law? Share in the comments section below!
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