BREAKING: Music Modernization Act Signed into Law
As reported by Billboard and many other media and music industry outlets, President Trump signed the Music Modernization Act into law today, accompanied by popular musicians and industry executives.
The law is expected to bring about meaningful changes to music publishing rights reform, ensuring that songwriters and creators receive more reasonable compensation for their created works. Billboard also reports that the law will have benefits for on-demand services such as Spotfiy, helping them to more easily avoid legal repercussions for issues of copyright infringement.
As previously reported by Rolling Stone and highlighted here on LVU, the Act aspires to accomplish three things: “Making sure songwriters and artists receive royalties on songs recorded before 1972; allocating royalties for music producers; and updating licensing and royalty rules for streaming services to pay rights-holders in a more streamlined way. In short, music-makers will get more money.”
Work still remains to solidify the implications of the Act on music publishing law. Nonetheless, the passage of the bill into law is expected to have widespread, positive impacts on creators industry-wide. This piece from Songtrust outlines the expected implications and their benefits.