Music Modernization Act looks to update royalties for the streaming age
The Music Modernization Act was unanimously passed by the Senate this week. The legislation, renamed the Orrin G. Hatch Music Modernization Act in honor of the Utah senator, is composed of three main parts aiming to adapt the world of music to the streaming era. As the era of streaming renders CDs obsolete, the goal is to adapt and adjust music compensation for the digital age.
The bill will next go back to the House, where a previous version of it passed in April. It The bill aims to rectify several issues that have plagued musicians, producers, and songwriters for years, including allowing artists to collect royalties for music streamed online, allowing artists to collect on music created before 1972, creating royalties for music producers, and reshaping the way the courts approac...