President Trump, Kid Rock & Performance Royalties
What do these three things have in common, you ask? They were all highlighted at the White House yesterday during the bill signing ceremony for the new Music Modernization Act. Flanked by Kid Rock along with several other artists and label execs, Trump signed the MMA into law. Interestingly, Kayne West (aka Trump’s new bestie) was also supposed to attend the signing, but he was nowhere to be found.
The MMA is an attempt to update the mechanical royalties system for the digital transmission of music. Highlights include increased publisher royalties for songwriters, including pre-1972 recordings which were excluded from the previous royalty arrangement. So it’s a big win for songwriters and the master recording rights holders, who have traditionally been paid far less than the performers.
Of course, broadcast radio’s exemption from paying performance royalties is still safe in the new MMA legislation – because why should broadcasters have to pitch in to support the industry they depend on? Ok, I’m done venting now. Congrats, MMA!