Apple and other major music streaming services recently paid a total of $ 424 million 384 thousand 787 as the “historic unique” royalties accrued to an organization established under the Music Modernization Act.
The large payment made by the music streaming services is expected to be distributed to songwriters and broadcasters from April.
Apple Music becomes top royalty-paying provider
Mechanical Licensing Collective announced on Tuesday that it has received copyright payments and related usage data from 20 streaming providers under the limitation of liability for past violations of the Music Modernization Act of 2018.
In this context, Apple and Apple Music were the biggest contributors with $ 163.34 million, while Spotify followed it with $ 152.23 million.
Amazon and Google paid $ 42.74 million and $ 32.86 million, respectively. Also, smaller broadcast companies like Pandora, SoundCloud, and Tidal have put in the pot.
“Songwriters and music publishers have been struggling for years to ensure they are properly and completely paid by digital streaming services,” said David Israelite, president and CEO of the National Music Publishers Association. The Mechanical Licensing Collective is an exciting breakthrough that acquires historically unique money, researches to find owners, and offers copyright holders a transparent process to claim what they are, and paves the way for future growth in the flow that will benefit the entire industry. ” said.