Dutch Music Collection Society Loses Artist Royalties In The Stock Market

from the good-job,-guys dept

The various music collection societies keep insisting that they're just the important middlemen helping make sure artists get the royalties they're due. Except, for some reason, they keep getting caught not actually giving that money to artists, but hanging on to it themselves. Billboard reports that the Dutch collection society, Buma/Stemra, is happily telling people that revenue rose by 2% last year -- though, oddly, the Billboard report leaves out one rather interesting detail. Reader Marcel de Jong notes that Buma/Stemra invested a bunch of the money it collected for artists into the stock market and then lost a chunk of it, so it's paying artists less money than it collected for them. What's unclear is if Buma/Stemra would have paid out more if it had made money... and also why it's gambling on the stock market with money it supposedly collected for artists.

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  1. icon
    Mike Masnick (profile), 28 May 2009 @ 5:05pm

    Re: Try to do some research next time

    Hi Mart,

    Thanks for clarifying some of the details (though, you don't have to be rude about it). We expect people to add additional details in the comments (which is why we leave them open). This is a conversation, not a journalism project.

    However, I still don't see how the points you raise make this any better or more reasonable. It just highlights the silliness of having a collections agency in the first place for all of this.

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