Music Publishing Weekly Roundup 2.27.2014
The Songwriter Equity Act was introduced to Congress by Representative Douglas Collins on Tuesday, February 25th. The purpose of the bill is to update Section 114 and 115 of the Copyright Act that was written in 1909. This would allow songwriters, composers and publishers to receive fair compensation for their works in today's market place. An estimated two-thirds of a songwriter’s income today is heavily regulated by copyright law and consent decrees. This bill will help today’s songwriters and publishers get their fair share of mechanical and performance royalties. ASCAP, BMI, SESAC, and NMPA have all publicly praised this new bill.
Reservoir Media Management recently aquired a large catalog consisting of 26,000 songs from First State Media Group. The deal includes Wind-up Music, Dimension/Dreamworks and Sheryl Crow’s catalog. First State’s catalog is said to be worth $4.5 million in net publisher’s share with songs such as “The Twist”, “Disco Inferno” and “Louie, Louie”. Reservoir COO, Rell Lafargue aims to diversify and expand their catalog which is what this deal has allowed them to do.
Recently launched INgrooves Publishing announced the signing of a variety of artists. Among the list is reggae artist Stephen Marley, folk-rock band Jamestown Revival, electronic producer and remixer Sinclair and electronic-Latin artist Federico Aubele.
BMG Chrysalis signed gospel group the Three Winans Brothers to a publishing and artist service deal. The gospel icons include BeBe, Marvin and Carvin Winans. Their upcoming album ‘Foreign Land’ will be released through BMG this Spring. The artist service deal will allow them to maintain creative control over their works.