Edshugeo The GodMoor

From Wired:

At a time when record labels and, to a lesser extent, music publishers, find themselves in the midst of an unprecedented contraction, the last thing they need is to start losing valuable copyrights to ’50s, ’60s, ’70s and ’80s music, much of which still sells as well or better than more recently released fare. Nonetheless, the wheels are already in motion.

“The termination that’s going to be coming up is going to be a big problem for the record companies and publishers,” said attorney Greg Eveline of Eveline Davis & Phillips Entertainment Law.

“It’s written into the statute,” said entertainment lawyer Robert Bernstein. “It’s just a matter of time.”

The Copyright Act includes two sets of rules for how this works. If an artist or author sold a copyright before 1978 (Section 304), they or their heirs can take it back 56 years later. If the artist or author sold the copyright during or after 1978 (Section 203), they can terminate that grant after 35 years. Assuming all the proper paperwork gets done in time, record labels could lose sound recording copyrights they bought in 1978 starting in 2013, 1979 in 2014, and so on. For 1953-and-earlier music, grants can already be terminated.

The Eagles plan to file grant termination notices by the end of the year, according to Law.com. “It’s going to happen,” said Eveline. “Just think of what the Eagles are doing when they get back their whole catalog. They don’t need a record company now…. You’ll be able to go to Eaglesband.com (updated) and get all their songs. They’re going to do it; it’s coming up.”

So, I take it Prince is just playing a waiting game in regards to his long standing quest to regain the rights to his master recordings. It's just a matter of time, and whether or not the RIAA can sneak in a law that defuses this "timebomb" as they tried back during the Clinton administration.

The record labels tried to defuse this bomb in 1999 by sneaking an amendment to the Copyright Act through the House of Representatives that would add sound recordings to the Act’s list of copyrights that were considered “works for hire,” which would make them exceptions to the grant termination clause. According to one source close to the situation, the labels told Congress that the Copyright Act already covered sound recordings as exceptions because albums of music are “compilations” — but that “just to be absolutely clear, [the labels] wanted to put it in so nobody can debate it.”

After musicians, including Carly Simon, reacted negatively, the amendment was withdrawn amid public outcry... (also from Wired)

Carly Simon is not to be underestimated as evidenced from this story from just about a year ago.

Labels: music business, Prince, rules and regulations