Artists and their managers are unhappy with their streaming royalties in Germany… but for once it’s not streaming services who are the target of this unrest.
MBW reports on 14 managers and lawyers representing popular artists in Germany, who have written to the three major labels plus BMG questioning whether the way they pay out streaming royalties is “legally compliant”. The managers and lawyers want to meet representatives from the labels in February to discuss changes that might be made.
WMG has reportedly declined to meet alongside its rivals, due to antitrust concerns, but will hold talks directly with the group.
Meanwhile, BMG has responded with an official statement saying that “we strongly welcome this attempt to highlight some of the inequities of the traditional record deal. This letter is signed by some of Germany’s most respected music managers and should be taken seriously… We do not find it justifiable in a world in which record companies no longer have the costs of pressing, handling and delivering physical product for them to try to hold on to the lion’s share of streaming revenues”.