IN HISTORIC MOVE, SONY MUSIC IS DISREGARDING UNRECOUPED BALANCES FOR HERITAGE CATALOG ARTISTS
For some time, influential voices in the industry have called for the unrecouped balances of heritage artists to be written off by record labels. This would see modern-day royalty earnings of these acts get paid into their pockets, rather than being swallowed by a record label with whom they may have ended dealings decades ago. That is especially true, in many cases, for heritage Black artists. Last summer, during industry-wide discussions surrounding Blackout Tuesday, veteran US artist manager and attorney, Ron Sweeney, called on the major record companies to implement a number of new policies in a strong op/ed. Sweeney wrote: “With respect to Black artists signed to you prior to 2000, that are no longer signed to your companies, zero out their unrecouped royalty balances and let their royalties flow to them so they can support themselves.” Many in the music industry never thought we’d see a day where a major record company openly embraced such a plan. Those people were wrong. I...