Fairness Rocks News The Federal Reserve Raises the Interest Rate for the MLC’s Black Box in Good News for Songwriters


Industry News

The Federal Reserve Raises the Interest Rate for the MLC’s Black Box in Good News for Songwriters

We haven’t heard much about it lately, but the Mechanical Licensing Collective quango is sitting on some $500,000,000 of other people’s money since they received that first $424,000,000 tranche according to the MLC’s press release in February 2021. In fairness, they’ve recently started paying it out in drips and drabs. Remember, the $424,000,000 was certain services catching up with the “historical” black box–payments of the songwriters’ own money that should have been paid long ago.

Read More: https://musictechpolicy.com/2022/07/29/the-federal-reserve-raises-the-interest-rate-for-the-mlcs-black-box-in-good-news-for-songwriters/