Revised Music Copyright Regulations Alter Digital Royalties and Copyright Entitlements in Music Industry
The music industry is about to witness a significant shift, as a new music copyright law is set to be implemented. UCLA Music Industry Professor Don Franzen recently discussed the implications of this new legislation, which aims to create a federally recognized property right in an individual's "digital replica."
This right includes rights to an artist's name, image, and digital likeness. Living individuals can license this right for up to ten years, while their estate or heirs can assign it after death. The legislation will be regulated through a federal registry maintained by the U.S. Copyright Office and will persist post-mortem for up to 70 years or as long as it is regularly exploited.
This change is designed to unify and clarify the patchwork of existing state laws regarding virtual likeness rights and is embodied in the NO FAKES Act, which has garnered broad industry support.
The new law targets the increasing investment in artists' catalogues and likenesses, reflecting the evolution of the music industry to commercially exploit not only musical compositions and sound recordings but also artists' digital identities. By creating this federal right, the legislation seeks to protect artists and their estates from unauthorized use of their digital replicas, providing a clear legal framework and licensing mechanisms.
A key aspect of the new legislation is a centralized licensing system and a centralized database. These measures, along with improved matching of recordings to rights holders, are expected to return money to people who should have been receiving it all along. The new collective responsible for identifying who to pay the unclaimed royalties to will hold these funds for at least three years to ensure proper identification.
However, it's important to note that the new legislation does not address the issue of low pay rates for streaming. Despite this, some changes are significant, and the music industry is expected to adapt to these changes in the coming years.
For a more in-depth look at this new music copyright law, you can read the full article in Pacific Standard.
[1] Source: Pacific Standard, [Date of Publication], [Author's Name], [Article Title]
- The new legislation, known as the NO FAKES Act, is not only aiming to protect artists' digital identities in the music industry but also extend to other business domains, potentially leading to significant changes in the finance sector as well, particularly in the investing of artists' catalogues and likenesses.
- The implementation of the NO FAKES Act in the music industry could inspire similar legislations in the entertainment and business sectors, including finance, paving the way for a more secure and profitable environment for artists and their estates in various industries.
