Sony Music will start paying its legacy acts royalties, even if they still technically owe the label money
The label will no longer apply existing unrecouped balances to earnings for eligible artists signed prior to the year 2000 who have not received advances since.
to artists and earning participants as part of new initiative called"Artists Forward." Under the new policy, the label will no longer apply existing unrecouped balances to earnings for eligible artists signed prior to the year 2000 who have not received advances since 2000. It applies retroactively to Jan. 1, 2021.The letter states that Artists Forward will focus on"prioritizing transparency with creators in all aspects of their development.
The aim, the source adds, is for Sony Music to"be a true partner of the artist, supporting them in all stages of their career."Today Sony Music Entertainment is announcing an expansion of the comprehensive support we provide to thousands of our artists around the world, with the launch of a new initiative called Artists Forward, prioritizing transparency with creators in all aspects of their development.
Through this program, we are not modifying existing contracts, but choosing to pay through on existing unrecouped balances to increase the ability of those who qualify to receive more money from uses of their music.
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