How The ’70s Majorly Screwed The Major Labels | TuneCorner Music Blog
►http://blog.tunecore.com/2011/09/how-the-70s-majorly-screwed-the-major-labels.html
Lava lamps, Happy Days, mood rings, MASH, and Jimmy Carter’s Playboy interview weren’t the only things to come out of the ’70s. In addition, copyright law was revised by the U.S. government granting artists and songwriters “termination rights.” This law states that 35 years after 1978 the recordings and songs “owned” by record labels or publishers would revert back to the artist or songwriter regardless of if the artist or songwriter was recouped, un-recouped, etc. In other words, the government said to the labels and publishers,“ 35 years is long enough. Times up, give them back control over their work.”
For those of you counting, 35 years from 1978 is 2013.
This means albums and songs from Cheap Trick, The Kinks, AC/DC, Kraftwerk, Carole King, Peter Gabriel, The Cars, The Buzzcocks, KC & the Sunshine Band, Kenny Rogers, David Bowie, Black Sabbath, Tom Waits, Yes, Sex Pistols, Boston, Ramones, Bryan Ferry, Heart, Uriah Heap, Neil Young, Aerosmith, Brian Eno, Hawkwind, Whitesnake, Queen, Kate Bush, and countless others are eligible to revert back to the artists. Which means that the record labels, in addition to losing control over distribution (think TuneCore) may now lose the rights to the only thing left keeping them alive, the recordings that they make money off of.
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As you can imagine, the labels are fighting it.