Universal Music Group announces new royalty program for legacy artists waiving unrecovered advances
Universal Music Group will follow in the footsteps of Sony Music and Warner by announcing its own program allowing certain legacy artists to receive royalties without having recovered their deposits according to Billboard. Eligible artists will receive royalties backdated to early 2022, but Universal did not explain who would be eligible or why.
“UMG is proud to launch a global goodwill program for select legacy featured artists and songwriters with unclaimed balances,” UMG executives said of the subject in the annual report. “By not applying their uncollected advances to royalty statements for any period beginning January 1, 2022, eligible creators and their immediate heirs who have not received any payments since January 1, 2000 will begin to receive royalties, under certain conditions,” the flagship label continued. “In the coming months, UMG will contact eligible artists and songwriters.”
Acts such as Dwight Yoakam and The Jesus and Mary Chain are taking steps to reclaim their copyrights under the Copyright Act of 1976. With this new program, he adds a more diverse background to the company.
In 2021, they began designating Columbus Day as Wellness Day, establishing a year-round Wellness Friday and included both Gen Z and Baby Boomers on a list of “untapped communities.” “. They have also collaborated with therapeutic company MedRhythms. MedRhythms is a digital therapy company that creates direct stimulation solutions that use clinical-grade sensors, software, and music to help restore function lost due to neurological disease or injury.