Unless you’ve been living under a rock, you’ve probably heard about Kanye West’s meeting with The President. Now, I’m gonna ignore the “interesting” meeting and the topics discussed in the oval office between the two celebrities. But if you want an overview, you can check it here. Instead let’s focus on the main point of the meeting: The Music Modernization Act.
Now, I’ll admit, I wasn’t too sure what was covered in this bill, but I’ll break it down for you.
The Music Modernization Act is a copyright bill that would update the copyright law for the digital era, specifically streaming. The bill assures that songwriters and artists receive royalties on songs recorded before 1972; allocates royalties for music producers; and updates licensing and royalty rules for streaming services to pay rights-holders in a more streamlined fashion, primarily by setting up an independent entity that will handle much of the work.
Don’t worry, I didn’t understand it at first either. To put it simply, artists and producers will now receive a bigger cut for their music being streamed on apps such as Spotify or Apple Music.
With the world moving farther and farther into the digital age and more people streaming music than actually buying albums, this is a big win.