There is plenty to cover in this month’s newsletter, including the details of our latest royalty distribution, a new package of Member benefits that we’re particularly excited to tell you about and a special webinar for Pride Month that is taking place later this month. Let’s get started!
On June 14, The MLC completed its third royalty distribution on schedule, and it was the biggest one yet!
The June royalty distribution covered March 2021 usage by DSPs, which reported total royalty pools to The MLC
of $54.4 million for the month. The MLC was able to match 83percent of the royalties reported to musical works registered in its database, once again improving on our prior months' match rate. Of that, we paid out $25.2 million directly to MLC Members, our highest monthly payout to date.
The remaining $15.1 million is pending distribution as follows:
$9.3 million related to usage that The MLC has not yet been able to match to the musical works in its database.
$4.7 million in matched royalties related to shares of registered works for which claims have yet to be submitted by a rightsholder/ MLC Member;
$1.1 million in matched royalties on legal hold; and
As always, royalties currently pending distribution will accrue interest until they are distributed, as required by the Music Modernization Act.
You have an opportunity to inform future webinar topics! What would you most like to learn about The MLC? We will be using your thoughts to evaluate what educational programming we should be offering. Please take a few minutes to share your thoughts via ThoughtExchange – an anonymous conversation platform where you submit your thoughts and rate the thoughts of your peers. This will allow us to understand what is most important to our Members.
Did you know that The MLC has received and processed more than 3 million musical works registrations so far in 2021?
We often reiterate about how important it is for our Members to Play Your Part and this is a great example of just how impactful that can be. By being diligent about submitting new works registrations and amending existing ones, you are playing your part to both help us deliver more accurate royalty payments to our Members and keep our database of musical works as current and updated as possible. Thank you to all of our Members!
Getting paid your royalties each month isn’t the only perk of an MLC Membership. The MLC has partnered with industry partners like Cosynd, Veva Collect, TuneRegistry, Music Law Pro and others to create a new Member Benefits package comprised of helpful services for songwriters and publishers, with special offers and discounts that are available only to MLC Members!
The MLC will be hosting a special webinar for Pride Month: Tuning Into Pride: A Music Industry Roundtable Discussion on Thursday, June 24 at 2 p.m. CT.
Tuning Into Pride: A Music Industry Roundtable Discussion
This 90-minute virtual roundtable will be hosted by our Head of Third-Party Partnerships Dae Bogan and Ryan Aceto of Peg Records and Producer Entertainment Group, and feature ten invited LGBTQ guest speakers from throughout the music industry. We invite all MLC Members to join us for a broad discussion on the career journeys of LGBTQ music industry creators and professionals and music company executives, and an interactive chat that unpacks current events and issues impacting LGBTQ music creators.
Don’t forget: if you ever need help or have questions about your royalty payments or statements, musical works data, The MLC Portal or anything else related to your MLC Membership, our friendly and knowledgeable Support Team is ready to help!
