Music Rights Groups Praise Senate Bill
• Leading artist rights and music companies applauded Senate passage of a bill to add $310 billion to the Small Business Administration’s COVID-19 loan program, including $50 billion for loans for economic disaster aid. The House is expected to approve the bill later this week. In a joint statement, the organizations said, in part, “We applaud leaders of the Senate and House, Secretary Mnuchin, and the Administration who worked to find an agreement to include more funding for the Small Business Administration’s Paycheck Protection Program. This action is an important next step to ensure the program has funds to reach all Americans who need it.
“Musicians, songwriters, and composers have had their ability to work upended by the pandemic. Because they often act as independent contractors and sole proprietors, traditional unemployment benefits fail to provide financial relief. That’s why it remains essential that the PPP make independent contractors and sole proprietors fully eligible for loans and loan forgiveness including accounting for lost wages and insurance costs during the eligibility period.” In closing, the statement said, “We applaud the Administration, Congress, and the States for moving forward with this relief and look forward to further improvements on this very good foundation to help all Americans get through this difficult time.”
Earlier this month, a broad cross-section of the music community came together to launch MusicCovidRelief.com with up-to-the-minute guidance and resource materials for the arts/entertainment community. The music coalition includes the RIAA, The Recording Academy, ASCAP, BMI, SESAC, Global Music Rights (GMR), Artist Rights Alliance (ARA), American Association of Independent Music (A2IM) and many others.
