Home Industry News #DoubleStat: @SenatorLeahy Says Show Me the Money on the MLC–@ArtistRights Watch
Readers will recall that the MLC is sitting on a pile of other peoples money (i.e., the Mechanical Licensing Collective, the DSPs one-of-a-kind joint venture quango mandated by the good folks from Washington who are here to help). We estimate that the MLC has got at least $500 million socked away at City National Bank in Nashville collecting dust–or interest. More on that later. This would include current black box plus $424 million or so in historical black box it voluntarily paid to the MLC by the DSPs–an inexplicably large sum given all the DSP audits over the years.
Read More: https://musictechpolicy.com/2022/10/20/doublestat-senatorleahy-says-show-me-the-money-on-the-mlc-artistrights-watch/