Today (July 20), Chairman/CEO of Sony Music Publishing (SMP) Jon Platt announced that the company has launched Songwriters Forward.
Under Songwriters Forward, SMP is introducing the Legacy Unrecouped Balance Program to qualifying Sony songwriters. With this new program, SMP will no longer apply existing unrecouped balances to earnings for eligible songwriters signed prior to the year 2000 who have not received advances since. This applies retroactively to January 1, 2021.
“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 as we begin this next chapter with Songwriters Forward,” writes Platt in an internal letter to Sony Music Publishing songwriters obtained by MusicRow.
These efforts accompany the company’s ongoing investment in administration modernization, including new SCORE data and analytics upgrades, Cash Out payment options, and real-time foreign royalty processing.
This new initiative is designed to expand Sony’s support of careers at every stage and compliments the recently announced Artist Forward initiative, which similarly finds Sony Music Entertainment longer applying existing unrecouped balances to earnings generated on or after Jan. 1, 2021 for eligible artists who signed to SME prior to the year 2000 and have not received an advance since then.
Qualifying songwriters for the Legacy Unrecouped Balance Program will be notified separately in the coming weeks.