FAC: Labels “Nothing” Without Artists
The Featured Artists Coalition (FAC) has spoken out against Sony after the major label asserted that it has no obligation to pass certain revenues from digital platforms along to artists.
Following the breaking breakage scandal broken by The Gen, a US court involving 19 plaintiffs claimed that due to Sony’s reported 6% stake in Spotify, the major has significant influence over the streaming platform to dictate how revenue is paid out. Sony responded that, although they obviously need to account for specific recording exploitation, revenues from digital would not always result in revenues for the artist- and that it does not need to redistribute such revenues.
The FAC released a statement, which you can read in full here stating: “Artists’ royalties have clearly been rendered all but value-less by the deals the major record labels have done with digital providers including music streaming services such as Spotify.
It continued: “It would appear that in this instance, Sony chose to ignore artists’ interests in favour of their own corporate ones. It’s extraordinary that Sony is prepared to defend their conduct in court by saying they believe it is their legal right to do so. Without the artists, labels would be nothing”. An argument that is difficult to disagree with.
The FAC also welcomed the publication of the ‘Fair Music: Transparency And Money Flows In The Music Industry’ report by the Berklee College of Music, as reported here in Music Week – a new 29 page report highlighting problems in the industry around payments and transparency.
© Generator 2023 - All rights reserved.
Delivered with Cargo Creative