New York, NY (Top40 Charts) The American Association of Independent
Music ("A2IM") thanks sponsors Congressmen Jerrold Nadler (D-NY) and Marsha Blackburn (R-TN) for introducing legislation aimed at closing unfair loopholes that have prevented sound recording owners/investors and performing artists from receiving royalties generated through the use of their songs.
The Fair Play Fair Pay Act of 2015 seeks to correct three significant injustices through the establishment of a sound recording royalty for AM/FM radio, removing satellite radio's below-market-rate exemption, and treating pre-1972 recordings with the same level of respect as those made after February of 1972.
American Association of Independent
Music ("A2IM") President Rich Bengloff commented on why it's critical that lawmakers support this important piece of legislation:
A2IM represents a broad coalition of 350 Independent music labels from 41 states across the U.S. We represent every region, every demographic, and every musical genre. Independent music labels are a critical support system for America's vibrant musician community and rich cultural heritage.
Independent Small and Medium-Sized Enterprises (SMEs) have finite resources to market and release music by some of the world's most celebrated, iconic artists. The status quo threatens the livelihood of Independent label owner/investors and their artists by denying them the fair value of their work. Asking music creators to forgo income while allowing Big
Radio to make millions in advertising off of their songs seems profoundly un-American.
The potential impact of Fair Play Fair Pay is enormous. The Independent music label sector has a direct impact on our economy, including cultivating thousands of middle-class domestic jobs and employment at the music labels and in related industries. Fair Play Fair Pay means more work for video directors, production teams, sound engineers, physical goods manufacturers, photographers, publicists, and more.
In addition, our community has a notable economic multiplier effect on non-music businesses like musical instruments and electronics and from technology and digital media usages, including television, films, games and radio.
Music creation feeds these businesses with consumer content.
We're also losing overseas royalties because of the AM/FM radio loophole. Because the United States is the only one of 34 OECD countries that does not have an AM/FM performance right, we take an "exception" from international agreements. This "exception" causes us to lose around $100 million in royalties from other countries, royalties that could flow to U.S. performers.
Fair Play Fair Pay is critical to protecting the livelihood of America's Independent music labels and their artists. Our community is very appreciative of the efforts by Congressmen Jerrold Nadler (D-NY) and Marsha Blackburn (R-TN) and hope their colleagues in the House will join them in supporting the creative visionaries that provide the world with the artists and music they love.
For more information on A2IM, please visit a2im.org
