The
RIAA, which represents record labels in the US, was one of the
organisations at the forefront of the industry's lobbying efforts to
pass the Music Modernisation Act. Here, RIAA President Mitch Glazier talks to about the Senate vote, the agreement with SiriusXM and what the bill means for the music community.
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| RIAA's Mitch Glazier |
Q: What was your state of mind when the MMA got through the Senate with a unanimous vote?
Mitch Glazier: At that point I was pretty relaxed and reflective (I can’t say the same for an hour before). It kind of felt like Congress was putting the cherry on top of a big milkshake – a perfect focal point to commemorate all of the cooperation and compromise inside that led up to some real common sense changes in the law. Listening to Senators Hatch and Alexander speak on the floor about music and its importance to our country was a proud and validating moment. A unanimous vote in the House and Senate for the value of music is a telling signal of music’s role in our culture, and a positive sign for future issues.
Q: What is the substance of the last minute agreement reached with SiriusXM?
M.G.: SiriusXM agreed to give up its appeal and request for rehearing of the current rate it pays to artists and labels to play their music (15.5% of their gross revenues), which could have resulted in a reduction of pay, and instead will pay the current rate through 2027, at which point there will be a Copyright Royalty Board (CRB) proceeding under a market-based rate standard. By skipping a CRB in 2022, both sides will save on litigation costs. The compromise gives years of business certainty to SiriusXM, artists and music companies, while creating platform parity and fair competition, eventually moving towards a market-based rate standard for everyone.
Q: You quoted the Grateful Dead in your comments after the MMA passed. What Dead song would fit what's going to happen now? Could it be 'Caution (Do Not Stop On Tracks)'?
M.G.: Ha! We were honored the band and Mickey Hart retweeted that quote. Such a cool moment – a good reminder of who and what this is all about. Now that the MMA is almost law, I think a fitting Dead song is one they did with Dylan, 'The Times They Are A Changing'. With a united music community, we have transitioned and public policy is no exception. Who knows what we can accomplish together next?
Mitch Glazier: At that point I was pretty relaxed and reflective (I can’t say the same for an hour before). It kind of felt like Congress was putting the cherry on top of a big milkshake – a perfect focal point to commemorate all of the cooperation and compromise inside that led up to some real common sense changes in the law. Listening to Senators Hatch and Alexander speak on the floor about music and its importance to our country was a proud and validating moment. A unanimous vote in the House and Senate for the value of music is a telling signal of music’s role in our culture, and a positive sign for future issues.
Q: What is the substance of the last minute agreement reached with SiriusXM?
M.G.: SiriusXM agreed to give up its appeal and request for rehearing of the current rate it pays to artists and labels to play their music (15.5% of their gross revenues), which could have resulted in a reduction of pay, and instead will pay the current rate through 2027, at which point there will be a Copyright Royalty Board (CRB) proceeding under a market-based rate standard. By skipping a CRB in 2022, both sides will save on litigation costs. The compromise gives years of business certainty to SiriusXM, artists and music companies, while creating platform parity and fair competition, eventually moving towards a market-based rate standard for everyone.
Q: You quoted the Grateful Dead in your comments after the MMA passed. What Dead song would fit what's going to happen now? Could it be 'Caution (Do Not Stop On Tracks)'?
M.G.: Ha! We were honored the band and Mickey Hart retweeted that quote. Such a cool moment – a good reminder of who and what this is all about. Now that the MMA is almost law, I think a fitting Dead song is one they did with Dylan, 'The Times They Are A Changing'. With a united music community, we have transitioned and public policy is no exception. Who knows what we can accomplish together next?
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