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Some 20th Century Rock Artists May Get Royalties for First Time
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Some 20th Century Rock Artists May Get Royalties for First Time
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Some 20th Century Rock Artists May Get Royalties for First Time
A new initiative by Sony Music Entertainment means some rock artists who signed record deals in the 20th century will receive royalty payments for the first time.
Titled the Legacy Unrecouped Balance Program, (part of a project named Artists Forward), the label reported that income generated from modern revenue channels such as streaming would be passed on to the musicians who created the music, instead of using it against advances the musicians had never been able to pay back.
In basic terms, a record deal is often an agreement to borrow money from a label, who guide its spending in the hope of making a profit from the release of an album. If an artists fails to sell enough records to make a profit, future income is used to fund repayment of the debt. The nature of some deals meant that even relatively successful musicians would remain in debt.
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