(Hypebot) — 14 managers and lawyers representing many of Germany’s biggest music artists have joined together to demand that record labels pay all artists a larger share of streaming music revenue.
“an urgent and fundamental need”
Several major managers in the US and UK tell Hypebot that they have been considering the most effective way to send their labels a similar message.
In a letter sent to Sony, UMG, WMG and BMG, representatives of Rammstein, Die Toten Hosen, Sarah Connor, Peter Maffay, Marius Müller-Westernhagen and others shared by the German newspaper Frankfurter Allgemeine Sonntagszeitung argue that there “an urgent and fundamental need” and question if current streaming calculations are even “legally compliant”.
Music manager Patrick Orth, who is also involved in the initiative, told the newspaper that he was also concerned with “giving new impetus to young, emerging bands.”
BMG shared an official response:
“We strongly welcome this attempt to highlight some of the inequities of the traditional record deal. This letter is signed by some of Germany’s most respected music managers and should be taken seriously… We do not find it justifiable in a world in which record companies no longer have the costs of pressing, handling and delivering physical product for them to try to hold on to the lion’s share of streaming revenues”.
H/T to MBW