Enabling them to earn royalties from streaming.
According to a letter from Sony Music addressed to their artists, the company states and clarifies that the label wrote off debts for thousands of their singed musicians, thus enabling them to earn royalties from their music when it’s streamed on platforms like Apple Music and Spotify.
‘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,’ can be read in their statement.
Raising awareness through the #BrokenRecord campaign, artists have led to a parliamentary inquiry into the state of music streaming and how this can be made fairer for artists. Speaking to the BBC, Tom Gray, the founder of the campaign, called Sony’s move ‘incredibly welcome’. ‘From the perspective of somebody who’s been running a campaign to try and get these companies to behave more ethically and transparently, it feels like a win’, he added.
