Future Of Music Coalition Wants To Rewrite Rules Of The Music Industry

WASHINGTON, DC (Hypebot) – Artist lobbying group, The Future Of Music Coalition, has issued a "Principles for Artist Compensation in New Business Models". The goals is the adoption of "legitimate digital business models and legitimate digital music marketplaces" which FOMC believes are "critical to musicians’ ability to promote, distribute and earn compensation for their music". Highlights include:

Licensing, Collection and Distribution of Revenues

Revenue sharing: Revenues must be equitably shared between copyright owner and original creator(s).

Unattributable income: Unattributable income, such as advertising revenue, advances, delivery charges for online content, bulk catalog licensing…must be fairly apportioned between the copyright owners and the creators…

Complete and accurate reporting

Direct payment: The creators’ share of the revenue must be paid directly to the creator or its collective agent, not to the copyright owner for redistribution.

Equal access to new models: All musicians and copyright owners must have equal access to these new models. An indie or unaffiliated musician must be able to license music to new services.

Lawsuit or settlement monies: All monies received as a result of copyright infringement claims…must be shared with the musicians…

Best effort to pay creators

Transparency

Accurate accounting

Right to audit

Governance

Equal representation on governing board: Creators must have the same level of representation as copyright owners on any entity that collects licensing revenues for music.

International

Collection of International Royalties: Musician shares…must be paid directly to the musician or its collective agent.

More on the Future Of Music Coalition's "Principles for Artist Compensation in New Business Models" (here).