Billy Corgan Testifies in Congress for Radio Royalties

Smashing Pumpkins frontman Billy Corgan has testified before the U.S. Congress in support of a new legislation, called the Performance Rights Act, which would make radio stations pay royalties to musicians in the same way that internet and satellite radio companies already pay.

Traditionally, radio stations don’t pay musicians or labels, compensating them instead with the added public exposure conferred by airing their songs. But now, with music sales plummeting, and radio’s promotional value dropping as well, Congress is considering the new bill presented by Corgan’s musicFIRST Coalition. Corgan defends a musician’s right to livelihood, affirming that:

“All areas of the modern music business are currently feeling the shifting tides as new models emerge and old ones are broken up. Ours is a business that always begins with the brilliance of the artists. Contrary to long-held myths, it does take money to create new music. The future demands new partnerships and a rethinking of long-held practices about how artists should be compensated for their music.”

Since we can’t assume that every artist played on the radio is making money from merchandise and touring, maybe a change is in order. The radio companies’ compensation system hasn’t changed in 80 years, and artists are being encouraged to take advantage of all revenue streams, not just album sales.

Conversely, radio is getting pummeled by digital services like iTunes and internet radio stations like Pandora, which is making business doubly complex. But that’s competition, and forcing radio stations to pay artists could help the flailing music industry stay on its feet.

How important is “terrestrial” radio for music, especially now in our internet age? Should radio stations be required to pay up?

Photo via idolator.com
Source: TLP