US Representatives Rashida Tlaib and Jamaal Bowman have introduced the Living Wage For Musicians Act to Congress, aiming to address the inequities in streaming payments for artists. Collaborating with the United Musicians and Allied Workers, they propose a minimum streaming payment of 1 cent per stream, significantly higher than the current industry standard.
At present, streaming giants like Spotify offer meager compensation ranging from $0.003 to $0.005 USD per stream, leaving many artists struggling to make ends meet. The proposed bill seeks to rectify this by implementing a minimum payout threshold and capping track earnings after reaching one million streams.
Funding for the increased royalties would come from platform subscription fees and a 10% levy on non-subscription revenue, ensuring that artists receive a fair share of the profits generated by their music. This move is designed to provide working-class artists with a living wage from streaming, a crucial step towards fostering a sustainable music industry.
In light of Spotify's recent policy changes, which cease compensation for songs with fewer than 1,000 streams, the need for legislative intervention is more pressing than ever. By addressing issues of artificial streaming and ensuring fair compensation for artists of all sizes, the Living Wage For Musicians Act represents a beacon of hope for musicians worldwide. As Rep. Tlaib aptly stated, "It’s only right that the people who create the music we love get their fair share, so that they can thrive, not just survive."
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