The European Commission aims to reform music licensing revenue collection with standardized methods of collection across European borders.
The Commission’s press release explains “new digital technologies are opening up great opportunities for creators, consumers and businesses alike,” but notes that many European nations currently employ inadequate licensing laws.
All 27 European Union member states have iTunes, but the Apple service only accounts for 19 percent of music revenue sales in Europe. Comparatively, iTunes “generates almost half of equivalent revenue in the U.S., according to figures from the IFPI industry body,” reports The Verge.
“The proposed changes would force collecting societies to comply with strict new standards, including a requirement to publish an annual transparency report,” notes the post. “The ultimate aim is to prevent situations where societies are too disorganized or ill-equipped to engage in international revenue collection, choosing to simply restrict distribution instead of offering suitable licenses.”
“All collecting societies should ensure that creators are rewarded more quickly for their work and must operate with full transparency,” says Michel Barnier, commissioner for Internal Market and Services. “This is paramount to sustaining investment in creativity and innovation which will in turn lead to additional growth and increased competitiveness.”
No Comments Yet
You can be the first to comment!
Leave a comment
You must be logged in to post a comment.