The Act proposes a new income for artists from streaming platforms, ensuring at least one cent per stream.
Photo credit: Jeffrey Clayton on Unsplash
The United Musicians and Allied Workers (UMAW) Union has introduced the ‘Living Wage for Musicians Act’ in Congress. The Act aims to increase streaming royalties for artists. This move marks a significant stride towards fair pay in the music industry.
The proposal was officially submitted on March 6th, 2024, and has been endorsed by US Representatives Rashida Tlaib and Jamaal Bowman. The Act aims to establish a new income source for artists, funded directly by streaming platforms, which could provide essential financial support for musicians.
The proposed royalty mechanism will derive funds from subscription fees on streaming platforms and add a 10% surcharge on non-subscription revenue. The goal is to ensure artists receive at least one cent per stream, potentially providing a steady income for working-class artists. To promote this Act, UMAW has initiated a petition.
Congresswoman Tlaib expressed her support for this crucial change, stating, “Streaming has transformed the music industry. However, it has also made things financially challenging for many artists. We need to ensure that the creators of the music we love are compensated fairly to secure their financial stability.”
For more information, visit UMAW’s petition here.
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