Statement from musicFIRST Executive Director Chris Israel on SiriusXM’s Fourth Quarter Results
Washington, D.C. (January 31, 2018) – “While SiriusXM’s record profitability and continued subscriber growth are good news for shareholders, the company’s refusal to pay music creators is an affront to those it depends on for content.
“SiriusXM makes billions, yet it refuses to pay legacy artists anything at all for recordings made before 1972 – while reaping the benefits of a special, below-market rate forced upon artists nearly 20 years ago. There’s something seriously wrong when legacy artists pay far more for their SiriusXM subscriptions than SiriusXM will ever pay them to play their recordings.
“It’s time for SiriusXM to stand with the artists whose work fuels their business. This begins by supporting commonsense measures to reform America’s music licensing system. SiriusXM should be able to thrive and grow, while also treating artists fairly.
“The U.S. Congress can put these issues to rest by passing the ‘CLASSICS Act’ and bringing a long overdue end to SiriusXM’s below-market rate by applying a free market ‘willing buyer, willing seller’ standard across all music platforms. That combination would ensure that artists from all generations receive fair market value for their work.
“Comprehensive music legislation addressing decades of unfair treatment of music creators has never been closer to becoming a reality and is within reach this year. We urge the House and Senate to fix our outdated music laws and deliver fairness to America’s music creators.”
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