Warner Music Group published its latest Environmental Social Governance (ESG) report yesterday, and it includes a figure relating to the legacy unrecouped advances program it launched last February.
That’s the initiative where musicians who signed their deals before 2000 but haven’t recouped their advances can finally be paid royalties, mirroring similar schemes from Sony Music and UMG.
“In its first year, the program has seen approximately 4,500 artists and related producers benefit globally, and we expect this number to grow,” said WMG in the report, noting that it is now expanding the program to more than 1,600 eligible songwriters signed to Warner Chappell.
WMG didn’t say how much it has paid through in royalties under the scheme – a stat that the UK’s DCMS parliamentary committee recently asked all three major labels to provide it.
The report also provides an update on WMG’s efforts around cutting emissions; diversity, equity and inclusion; and wellbeing.
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