Agreement Is Reached On Historic Bill
Sets Out Recording Artists' Right To Audit Record Labels
Over the past week the American Federation of Television and Radio Artists (AFTRA), the Recording Industry Association of America (RIAA) and members of the California Legislature, including the bill's author Senator Kevin Murray, have been engaged in intense negotiations to hammer out a compromise version of SB 1034, the "Recording Industry Accounting Practices Act." The amended compromise bill that has emerged would provide recording artists under royalty contracts the statutory right to confirm, through audits, proper payment for their work, and conduct such audits - or have such audits conducted by their chosen representatives - individually or in groups. The bill would also codify the ability to hire auditors on a contingency fee basis, which, combined with the ability to audit in groups, should increase the probability that artists will actually pursue audits.
|MusicDish Network Sponsor|
The bill will now return to the Assembly Arts, Entertainment, Sports, Tourism and Internet Media Committee for a vote on June 15 and then will be heard by the Assembly Judiciary Committee before going to the full Assembly for a vote. The Senate passed an earlier version of the bill last year.
"This legislation represents a necessary and fundamental first step in addressing the long-standing conflict between record companies and recording artists regarding accounting practices. Assuming passage, AFTRA intends to build on this initial success by implementing systems to assist artists in accessing this new statutory right and finding and claiming every penny that is due them. We will be monitoring this area carefully to ensure that the core intent of this bill is fully realized," stated AFTRA National President John Connolly.
AFTRA National Executive Director Greg Hessinger added, "Legislation is an inexact art and compromise is inevitable, but this represents a tremendous advance. By accepting a legislative remedy, the industry has acknowledged the deficiencies in the status quo and taken a step toward greater accuracy and clarity in royalty accounting practices. We will continue to work with managers, accountants, and other ally groups to enforce recording artists' rights created by this statute, as well as to seek even more far-reaching reform."
On Tuesday, Connolly along with other artists and prominent industry figures, including former head of Columbia/Sony Records, Walter Yetnikoff, testified before the California Assembly Arts, Entertainment, Sports, Tourism and Internet Media Committee in support of legislative relief.
» indieOn Connects Music to the Blockchain
» 13 Music Label Sold to MTN
» Darcus Beese Named President Of Island Records
» ASCAP Revenues Top $1.144 Billion In 2017
» BMG Appoints New Creative Directors In Nashville
News Beat Directory
» [2018-09-16] Live Nation Electronic Asia Inks Deal With Budweiser For Creamfields Festivals; Together, Creamfields And Budweiser Will Focus On Building Entirely New Content For Dedicated Electronic Music Fans Throughout Asia
» [2018-08-23] Andy Ma Appointed Warner Music China CEO; Andy Ma Has Also Been Appointed EVP, Commercial And Business Development For Greater China
» [2018-08-23] IndieOn Connects Music To The Blockchain; IndieOn Is Confident Of Creating A "music Miner" Who Listens More And Grow Their Token Value
» [2018-06-23] The 2018 MIDEM Silk Road International Music Alliance Signing; International Music Industries Signing Of A Mutual Resource Sharing Agreement With Shanghai Conservatory Of Music & The China Records Group
» [2018-06-06] Screen Music Connect To Explore The Music Of Film, Television And Interactive Media; Created By James Hannigan, Award-winning Composer And Game Music Connect Co-founder, Screen Music Connect Builds On The Success Of The Sold-out Game Music Conferences
» [2018-06-05] Fred Casimir To Develop BMG's Global Recordings Business; As Well As Building BMG's European Infrastructure, Casimir Was Instrumental In Developing BMG's Recordings Business
» [2018-06-03] 13 Music Label Sold To MTN; DSN Music Spins Off Record Label To Albuquerque Music Entrepreneur's New Group
» [2018-06-02] CISAC 2018 Annual Report; A Comprehensive Overview Of The Confederation's Work To Serve 4 Million Creators And 239 Authors Societies Across The World
» [2018-06-02] MusicDish Announces A Love Electric 2018 China Tour; The Tour Will Crisscross Through China With 12 Shows In 8 Cities, Including Guangzhou, Dongguan, Zhuhai, Shenzhen, Kunming, Jiaxin, Wuhan And Beijing
» [2018-06-02] Darcus Beese Named President Of Island Records; Renowned U.K. Music Executive To Join Universal Music Group's U.S. Label Leadership
» [2018-05-17] Avant-Garde Label Maybe Noise Launches In Beijing; The Official Launch Will Be On May 26 At Magnet Theater With A Performance Supporting Its First Vinyl Release: Píng Zè
» [2018-05-04] Award-Winning Lithuanian Rock Band Colours Of Bubbles "She Is The Darkness" 2018 China Tour; The Tour Will Kickoff In Shanghai Where The Band Will Represent Lithuania During The Country's Signing To The Silk Road Music Alliance
follow MusicDish on