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Copyright term may now be entering endgame, but there is still some work to be done with the 20% session fund that is intended to accompany term extension.
Internal Market Commissioner Charlie McCreevy had suggested in his Directive last year that record companies would set up a fund for session musicians.
In February McCreevy wrote, "For session musicians, the record companies will set up a fund - a substantial fund reserving at least 20% of the income during the extended term to them. For featured artists, original advances may no longer be set off against royalties in the extended term. That means the artist would get all the royalties during the extended term."
However, only the UK industry seems to be addressing this because either the systems are not in place around the rest of Europe to adequately administer such a fund or it remains a low priority for other territories.
Therefore, in tandem with the discussions in the European Council and Parliament in Brussels, the UK music industry (notably, the ...