| Abstrakt: |
The Limited Pressing Agreement (LP Agreement) has been updated by Local 47 and the Federation to better suit the current music industry landscape. Beginning on February 5, 2024, recording rates will increase by roughly 6%, followed by an additional 3% increase on February 3, 2025. The Limited Pressing Music Preparation rates have already increased as of January 12, 2024. The new version of the LP Agreement clarifies additional wages and benefits for musicians when a Limited Pressing recording session is filmed or videotaped. Streaming metrics on platforms like Spotify and Apple Music are now factored into the total units sold for a Limited Pressing project, and an upgrade fee to the Sound Recording Labor Agreement (SRLA) is due when a song reaches 10,000 units sold in the United States. The LP Agreement has also been updated to allow for licensing to a record distributor. The current version of the agreement can be viewed and downloaded on the Sound Recording webpage. For questions about the LP Agreement, patrons can contact Jamie Vespa, the Sound Recording Business Representative. [Extracted from the article] |
