Paul McCartney, Chris Martin & More Call For Reforms To Streaming Royalty Payments04/25/2021
156 British musicians, including Paul McCartney, Kate Bush, Noel Gallagher, Chris Martin, Led Zeppelin and Annie Lennox have written a letter to Prime Minister Boris Johnson calling for reforms to streaming royalty payments.
“For too long, streaming platforms, record labels and other internet giants have exploited performers and creators without rewarding them fairly. We must put the value of music back where it belongs – in the hands of music makers,” the artists said in the introduction of the letter.
The artists, represented by the Musicians’ Union, argue the 1988 Copyright Act has “not kept up with the pace of technological change” in the music industry.
The letter complains of multinational corporations wielding extraordinary power and songwriters struggling as a result.
They called for an immediate government referral to the Competition and Markets Authority and the appointment of a regulator to ensure the lawful and fair treatment of music makers.
A British parliamentary panel is looking into the economic impact that music streaming is having on artists, record labels and the wider music industry as part of the “Economics Of Music Streaming” inquiry.
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