We all enjoy music via streaming these days. The US has the largest share of paid subscriptions for DSP music. Revenue in this segment in the US is projected to reach US$6.03b in 2023.
In 2018, the Music Modernisation Act was signed into law. It had 3 objectives. The main objective was to create a blanket license for interactive streaming services. The other two were to create rights for pre-1972 sound recordings and for music producers, mixers and sound engineers.
Besides blanket licensing for streaming, the Act establishes a mechanical licensing collective (MLC) and Digital Licensee Co-ordinator. The MLC was formed by a coalition of music companies. For sound recording rights, it is the Sound Exchange which is collecting the license fee. The Sound Exchange has also been active in the lobbying of the American Music Fairness Act 2022.
After 5 years since the enactment of the Music Modernisation Act, we are privileged to have Serona Elton, Head of Educational Partnerships of Mechanical Licensing Collective and Ryan Lehning, Assistant General Counsel, International of Sound Exchange to share with us the state of play in this area in the US.
Read about the Speakers.
This event is free to participants.