VNUE approves American Music Fairness Act
NEW YORK, June 29, 2021 / PRNewswire / – For years at VNUE (OTC: VNUE), we have said that one of our primary missions is to protect songwriters, artists and others in the music industry, in order to that they receive their fair compensation through royalties – that is, fair to stakeholders, but also fair to business owners. This concerns not only music played in public spaces such as bars, restaurants and others in the “general license” space, but also with the radio.
Did you know that the United States is the ONLY country in the world that does not legally require radio stations to pay royalties to performers? Now there is some encouraging news for the music industry.
Ted deutch (D-FL) and Darrell issa (R-CA), with the full support of legendary musicians including Dionne warwick and Sam moore, just went to Congress to introduce a bill so that musicians and copyright holders can be paid for royalties. VNUE fully supports and approves this proposed legislation.
The American Music Fairness Act (AMFA) would require radio stations to pay performing royalties to all musicians and copyright owners.
This is where VNUE comes in. Our Soundstr (MRT) music recognition technology was designed for this. Soundstr can identify the music played on radio stations and create an accurate log of the music played, and married with additional data that we compile, who are the stakeholders as well as their PRO (Performing Rights Organization) affiliation. VNUE’s technology has the ability to create a clearinghouse for this data – not only limited to the radio but also to physical locations, so that the end-to-end track exists of what was played, when and where. .
Zach Bair, CEO of VNUE, said: “While we value our radio partners and the contribution that radio has made to the industry, artists should be fairly compensated for their work. In today’s world of streaming and the Internet, radio has to adapt to the changing world. . Soundstr can help on both sides – we can help get the right artists and writers paid, and at the same time make sure the radio only pays what they should, not more. I’m excited to see this develop, and we hope VNUE and Soundstr can play a role. We are ready. “
At a press conference announcing the introduction of the new law, Deutch said, “The American Music Fairness Act will protect the artists we know because they make the music we love. For the first time, artists would see some of the huge profits made. on the back of their creative work. Congress must end the unfair deal that AM / FM radio has forced on musicians. “
The American Music Fairness Act would change the music industry by:
- Require terrestrial radio stations to compensate all artists for their property.
- Create a fair market value for music performance royalties by closing the loophole that allows AM / FM radio stations to broadcast music without paying artists.
- Exempt radio stations that fall under $ 1.5 million of annual turnover and whose parent companies report less than $ 10 million in the overall annual turnover. For less than $ 2 per day ($ 500 annually), small local stations can broadcast unlimited music.
- Ensure that foreign countries pay American artists when their songs are performed abroad.
The American Music Fairness Act is approved by: American Association of Independent Music (A2IM), American Federation of Musicians, Recording Academy, Recording Industry Association of America (RIAA), SAG-AFTRA, SoundExchange and now VNUE.
About VNUE, Inc. (www.vnue.com)
VNUE, Inc., (OTC: VNUE) is a leading music technology company dedicated to further monetizing the live music experience for artists, writers, labels, publishers, fans, venues and all stakeholders by creating exciting new live music experiences. , and ensuring that the right rights holders are fairly compensated. The company is the exclusive licensee of DiscLive Network (www.disclive.net), the pioneer of “instant live” recording, and the owner and operator of Set.fm (www.set.fm), our innovative ‘instant’ music streaming application platform. VNUE is also deploying a disruptive technology called Soundstr (www.soundstr.com), a cloud-based platform using AI and other means that identifies music played in bars, restaurants, radio stations and other businesses, and will ensure that those businesses pay only their fair share for music licenses, while ensuring songwriters and artists are paid for their work, thus creating a fully transparent performing rights ecosystem. The VNUE team is led by CEO and Chairman Zach Bair, a veteran music and technology entrepreneur and recording artist (www.zachbairmusic.com). VNUE is made up of a group of technologists, artists, songwriters, performing musicians, music and touring executives, and of course fans passionate about the future of the music industry.
SOURCE VNUE, Inc.