"With the president's signature Thursday, the Music Modernization Act is officially the law of the land".
"Let's stop worrying about the future all we have is today", Kanye expressed in his lengthy speech.
The bill also adjusts the rate standard by which songwriters' mechanical rates are considered and makes "improvements" to the ASCAP and BMI consent decrees, as the NMPA sees it.
The MMA's three main accomplishments are: guaranteeing streaming royalty payments to artists for songs recorded before 1972; stipulating direct streaming royalty payments to record producers and engineers; and updating licensing and royalty rules for streaming services to pay rights-holders via a new independent body, known as the Music Licensing Collective, governed by songwriters and music publishers. "Until now these works have been heavily performed, but the artists are not compensated". The bill won wide bipartisan support in the House and Senate and is backed by the music industry. "They were treated very unfairly".
Even though Fox provides online livestreams for all the president's rallies, cable news junkies might have noticed that they cut away from his appearances midway more often recently. "They're not going to be treated unfairly anymore", said Trump.
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In a statement, Broadcast Music Inc. It's named after the retiring Utah senator, who is also a musician.
Music business leaders reacted to the signing with enthusiasm. We are gratified by this extraordinary outcome that recognizes the essential contributions of creators and streamlines the use of their music across businesses.
"Certain entertainers have been taken advantage of, but no longer, because of Trump, can you believe it?"
The music community lauded the legislation.