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Sony Music Entertainment pledges to wipe unrecouped legacy artist debts

  Artists signed to the label pre-2000, who have not earned royalties on their music since 2000, are eligible for payment Thousands of artists who signed to Sony Music Entertainment before the year 2000 and did not recoup their advances will be eligible to profit from their recordings for the first time, under a new initiative proposed by the major label. While Sony is not explicitly wiping artist debt, in order to account for any act who has reversion rights tied to recoupment, reportsMusic Business Worldwide , it has said it will pay royalties on sales and streaming to any act that has not received such payments since 2000, backdated to 1 January 2021. Continue reading... .. Full story on theguardian.com 

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