@shirleyhalperin: Variety Reveals $1,500,000,000 First Unmatched Payment to Collective Under Music Modernization Act

[Editor Charlie sez: Now we understand what the rush may be!]

The DSPs are holding some $1.5 billion in unmatched mechanical royalties. If the MMA passes, that money would be passed through to the MLC which would match it to the songwriters and publishers.

Read the post on Variety

[UPDATE:  The quoted language in the Variety story has changed:]

The DSPs are holding some $1.5 billion in unmatched mechanical royalties — that total is the sum of all Notice of Intent (NOI) filings currently parked at the U.S. Copyright office, and is climbing. If the MMA passes, that money would be passed through to the MLC which would match it to the songwriters and publishers.

[2nd UPDATE:  The quoted language in the Variety story has changed again with an “Update” of their own.  What they don’t say is that black box and the NOIs with the Copyright Office cannot have anything to do with each other because filing an “address unknown” NOI in the Copyright Office cuts off any royalty payment, so there can be no black box by definition.  Unless there is a voluntary accrual outside of what the law requires which no one has said, but should just be put out there as a possible explanation, however unlikely.]

The DSPs are holding millions in unmatched mechanical royalties — the sum of all Notice of Intent (NOI) filings currently parked at the U.S. Copyright office, while unknown, is climbing. If the MMA passes, that money would be passed through to the MLC which would match it to the songwriters and publishers.

Update: The sum of all NOIs submitted to the Copyright office is unknown; the article previously stated $1.5 billion was being held as “black box” money.

 

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