Living Wage for Musicians Act Focused on Boosting Streaming Royalties for Artists
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A recently introduced bill – The Living Wage for Musicians – in the United States Congress, spearheaded by House Representatives Rashida Tlaib and Jamaal Bowman, seeks to elevate streaming royalties for artists. The two worked together with the Union of Musicians and Allied Workers to present this new proposal.
The Living Wage for Musicians Act proposes the establishment of a novel payment framework, known as the Artist Compensation Royalty Fund. This fund aims to circumvent traditional intermediaries, such as record labels, redirecting listeners’ funds directly to the artists. Here is what Tlaib had to say about it:
“Streaming has changed the music industry, but it’s leaving countless artists struggling to make ends meet behind. It’s only right that the people who create the music we love get their fair share, so that they can thrive, not just survive”
Under the provisions of the Living Wage for Musicians Act, funding for these initiatives would be derived from two primary sources. First, an additional subscription fee, proposed to range between $4 and $10, would be implemented. Second, a 10% portion of non-subscription revenue generated by streamers, including proceeds from advertisements, would contribute to the Artist Compensation Royalty Fund.
Moreover, Tlaib and Bowman have championed the bill with the backing of the Union of Musicians and Allied Workers. Recognizing that streaming platforms are contemplating subscription fee hikes, the union and its advocates assert the importance of proposing a framework that guarantees these additional fees directly benefit musicians. Even though it’s too early to tell how much support the bill will gain, this is undoubtedly a step in the right direction for the industry.
For now, you can take a look at the Living Wage for Musicians Act here.
Stay tuned for more news!
