Today, the Music Modernization Act has been officially signed into law by President Trump. Kanye West among others witnessed the historic moment. Artists have been treated very unfairly for a long time. The Music Modernization Act will modernize copyright protection for recording artists and songwriters in the digital and streaming age. Simply, artists will get paid fair market value.
The bill revamps Section 115 of the U.S. Copyright Act. Their are the act’s three main pieces of legislation:The Music Modernization Act, which streamlines the music-licensing process to make it easier for rights holders to get paid when their music is streamed online. The Compensating Legacy Artists for their Songs, Service, & Important Contributions to Society (CLASSICS) Act for pre-1972 recordings. The Allocation for Music Producers (AMP) Act, which improves royalty payouts for producers and engineers from SoundExchange when their recordings are used on satellite and online radio.