Earlier today, 415 members of the House of Representatives voted to pass a bill which would modernize the way artists are able to monetize their work. The bill, known as the Music Modernization Act, has been kicking around Washington for a while and managed to accrue support from veteran producers, artists, engineers and other members of the music community. The new bill would severely overhaul existing copyright laws on the mechanical reproduction of music and address long-standing grievances with a non-standard rate for royalties.
SoundExchange CEO Michael Huppe spoke about the new bill in very glowing terms upon it’s passing.
“This legislation stands to benefit artists, songwriters, labels, publishers, studio producers and others. We are grateful that lawmakers in the House worked to update our nation’s copyright laws for the digital age, and we look forward to working with the Senate to get this legislation passed quickly. Music creators have waited long enough.”
The praise for the bill was near unanimous. Recording Academy President & CEO Neil Portnow and National Music Publishers Association President & CEO David Israelite both shared thanks that the mechanisms by which artists are paid would be brought into the 21st century.
Though the bill easily passed the House, it still needs to be reviewed by the Senate Judiciary Committee on May 15th. If it passes through the Senate, the bill will be delivered to the current president and noted Kanye muse Donald Trump, where his signature will make it the law of the land.