The Music Modernization Act (MMA) is officially law. Last month, the bill widely backed by musicians, songwriters, producers and labels passed through the US Senate by unanimous vote. Today, President Donald Trump signed the MMA into law.
The MMA edits Section 115 of the U.S. Copyright Act, bringing music law up to speed with the modern streaming era. Moving forward it will be easier for rights holders to get paid for their work in music.
There are three important parts of the U.S. Copyright Act: The Compensating Legacy Artists for their Songs, Service, & Important Contributions to Society (CLASSICS) Act, The Allocation for Music Producers (AMP) Act, and the MMA.
Under the new law, it will be easier for artists and songwriters to receive royalty payouts from music recorded prior to 1972. It will also ensure songwriters are paid for streaming services in a more efficient manner. The MMA will also provide a consistent process for musicians to obtain unclaimed royalties.
Recording Industry Association of America president Mitch Glazier released a statement following this huge step in music history: “The Music Modernization Act is now the law of the land, and thousands of songwriters and artists are better for it. The result is a music market better founded on fair competition and fair pay. The enactment of this law demonstrates what music creators and digital services can do when we work together collaboratively to advance a mutually beneficial agenda.”
Source: The Verge | Photo via aLIVE Coverage for Life Is Beautiful
This article was first published on Your EDM. Source: The Music Modernization Act Is Officially Law & Here’s What It Means
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