SONY EXTENDS UNRECOUPED-BALANCE INITIATIVE TO SONGWRITERS

Sony Music Publishing has announced the creation of Songwriters Forward, an initiative that will waive any unrecouped balances when determining earnings for SMP songwriters who were signed prior to 2000 and have not accepted any advances since then.

The announcement follows the June launch by Rob Stringer and Sony Music of Artists Forward, a similar program for the label's legacy recording acts.

In a note to stakeholders, SMP’s Chairman/CEO Jon Platt said: “With historic policy changes across our business, we are taking important steps toward creating a more equitable, transparent music industry for songwriters and all creators. On behalf of our teams around the world, it is our privilege to represent you.”