NEW ACT PROPOSES MORE STREAMING ROYALTIES
The United Musicians and Allied Workers (UMAW) union, in collaboration with US Representatives Rashida Tlaib and Jamaal Bowman, has taken a decisive step towards reshaping the landscape of streaming royalties with the introduction of the Living Wage for Musicians Act.
Unveiled on March 6th, the proposed legislation seeks to address the longstanding disparity in streaming revenue distribution by establishing a new revenue stream directly benefiting artists. Central to the bill's provisions is the implementation of a minimum one-penny-per-stream royalty, a measure meticulously crafted to afford working-class artists a sustainable living wage derived from streaming platforms' revenues.
Under the proposed framework, this enhanced royalty structure would be sustained through a combination of platform subscription fees and a ten-percent levy on non-subscription revenue. The aim is to rectify the prevailing imbalance and ensure that artists receive equitable compensation commensurate with their creative contributions.
"Streaming has transformed the music industry, yet many artists find themselves grappling with financial insecurity," remarked Congresswoman Tlaib. "It's imperative that the individuals behind the music we cherish receive their fair share, enabling them not merely to survive but to thrive."
In tandem with this legislative initiative, UMAW has launched a petition rallying support for the bill's passage, galvanizing artists and music enthusiasts alike in the pursuit of equitable compensation. Additionally, UMAW has spearheaded the Fair Pay at SXSW campaign, mobilizing efforts to spotlight and address systemic inequities within the industry.
As SXSW unfolds from March 8th through 16th, UMAW is set to amplify its advocacy through a protest concert and rally, harnessing the power of collective action to champion the cause of fair compensation for musicians.
For those eager to lend their support to this transformative endeavor, signing the petition and engaging with UMAW's advocacy efforts on Instagram offer tangible avenues for involvement.