New “CLASSICS” act is one of several before the 115th Congress seeking to fix laws hurting music creators
The music industry is on the road to recovery. Dramatic revenue declines, which plagued the business for more than a decade, have begun to turn around, driven by streaming and other digital formats. This development has been hard fought and is the result of a concerted multi-year industry effort to embrace new monetization opportunities. This road to recovery, however, is long and our journey is far from complete. Revenues are still significantly below the industry’s peak, and our public policy is far from where it should be.
In Washington, D.C., we have been working with the entire music industry, service providers and lawmakers on both sides of the aisle to reform public policy and fix antiquated laws that harm America’s music creators.
This effort is starting to bear fruit. Several bills have been introduced in the 115th Congress that seek to fix problems with the way our laws treat music creators. We hope that these bills are emblematic of a positive change in the policy environment. Each bill is a step along the way, fitting into a larger vision of reform to repair our laws’ historical mistreatment of music creators.