.SoundExchange, RecordingAcad and more launch Fair Trade of Music campaign to pay creators abroad
SoundExchange estimates that U.S. creators are globally losing out on roughly $330 million in royalties every year.
The campaign revolves around the trade principle of"full national treatment," meaning that a nation"should provide foreign entities the same benefits and protections it would its own nationals," the Fair Trade of Music site explains. When applied to music, this principle ensures that one set of laws in a country equally protects both domestic and foreign works and recordings, including the payment and collection of royalties.
As a result, SoundExchange -- which collects and distributes performance royalties for non-interactive digital music streams -- estimates that U.S. creators are globally losing out on roughly $330 million in royalties every year, particularly with respect to royalties for traditional broadcasts, public performances and some digital uses.
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