Universal Music Group, the world’s largest record label, has officially confirmed its new “goodwill program.'
, the world’s largest record label, officially confirmed its new “goodwill program” to wipe the unrecouped advances of some legacy artists and songwriters. The company properly unveiled the program in its annual report, issued Thursday, March 31.
UMG didn’t specify which of its legacy artists would qualify for the program, only stipulating that starting this year “eligible creators and their immediate heirs who have not received any payments since January 1, 2000, will begin receiving royalties, subject to certain conditions.” The label added that it would be contacting eligible artists and songwriters in the coming months.
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