According to the Broken Record campaign, artists receive about 16 per cent of the income from streams, while record companies take about 41 per cent and streaming services 29 per cent.
The committee heard that while musicians were struggling the biggest record labels — Universal, Sony and Warner — were making record profits.
Many musicians are lobbying for streaming platforms to employ an Equitable Renumeration system, which is used to cover royalties due from music played on radio and gives a roughly 50-50 split between artists and labels.
Great. Let’s do it.
Altho’ someone should point out to the musicians. Radio only pays songwriters, there’s no payment to acts or musicians. Streaming pays songwriters and musicians……