The U.S. Senate has passed the Music Modernization Act, which is great news for the music industry.

Music Modernization Act

This week, there was a major milestone for the music industry as the United States Senate unanimously passed the Music Modernization Act. This comes on the heels of the of the unanimous passing of the bill by the U.S. House of Representatives in April of this year.

The Music Modernization Act includes legislation that would guarantee that artists and labels who recorded music prior to 1972 would have to the right to be paid for their music when played by digital outlets.

This is a step in the right direction to protect the interests of artists and labels. We applaud the U.S. Senate for their efforts in continuing to move the needle on this effort to overhaul music licensing legislation in the United States.

You can read more about this story on the Music Business Worldwide website.

Learn more about investing in the music industry

If you are interested in the potential to invest in the music industry, learn more about the Barometer Music Royalty Fund.