The Featured Artist Coalition (FAC) has welcomed news of the World Independent Network’s (WIN) Fair Digital Deals Declaration.
The declaration was unveiled yesterday (16 July) with more than 700 independent labels including Young Turks and Ninja Tune signing up.
WIN listed a number of objectives with the aim of ensuring independent artists get their fair share of online revenue from the use of their music.
In a statement, the FAC described the declaration ‘as a huge step forward for the record business and their relationships with artists’.
‘We understand the financial risk involved in licensing new platforms, especially given the volatile and highly competitive nature of the digital environment. But surely artists should participate in all revenues that derive from catalogue value, however the financial deals are structured?'
The release continued: ‘WIN describe this in terms of fairness. The FAC would go one step further and say that all labels should have a fiduciary duty to artists, as well as their shareholders, to protect and grow the value of the copyrights which are core to their business, and conduct third-party agreements with artists’ best, long-term interests in mind.’
Read our news story on the WIN declaration.
The declaration was unveiled yesterday (16 July) with more than 700 independent labels including Young Turks and Ninja Tune signing up.
WIN listed a number of objectives with the aim of ensuring independent artists get their fair share of online revenue from the use of their music.
In a statement, the FAC described the declaration ‘as a huge step forward for the record business and their relationships with artists’.
‘We understand the financial risk involved in licensing new platforms, especially given the volatile and highly competitive nature of the digital environment. But surely artists should participate in all revenues that derive from catalogue value, however the financial deals are structured?'
The release continued: ‘WIN describe this in terms of fairness. The FAC would go one step further and say that all labels should have a fiduciary duty to artists, as well as their shareholders, to protect and grow the value of the copyrights which are core to their business, and conduct third-party agreements with artists’ best, long-term interests in mind.’
Read our news story on the WIN declaration.
