News
New Transparency Code comes into effect for the UK music industry
A landmark agreement between creator and rightsholder communities, designed to promote transparency around licensing and royalties related to music streaming, and improve communication in the sector, comes into effect on 31 July 2024.
Developed and agreed through a collaborative process between 12 music industry bodies representing music creators, record labels, publishers, digital service providers, distributors and collecting societies, the code forms part of the joint UK government and music industry work on the economics of streaming. Through our trade body the BPI, Sony Music UK is among those backing the pledge which represents a positive step in building creator understanding and trust.
The Government’s Intellectual Property Office (IPO) will have oversight of the voluntary code, which is the first of its kind between creators and rightsholders, and its implementation. It will convene meetings of signatory organisations every six months following the effective date to assess how the code is working.
Sony Music is committed to artist integrity, transparency and entrepreneurship, putting our creators at the forefront of what we do. Our industry-leading leading Artists Forward initiative, including our Legacy Unrecouped Balance Programme, royalty portal and real-time artist tools, is a key way in which Sony strives to uphold the highest standards of transparency with our artists and partners.