No love for the societies from ‘Floyd and Radiohead… full story at Reuters (via paidContent):

A proposed EU law to give musicians more rights over their royalties has angered bands like Radiohead and Pink Floyd, who accused the European Commission of breaking promises to tackle the problem of musicians’ missing pay.

“We are deeply disappointed by your choice to defend the interests of a minority of managers and stakeholders,” said a letter signed by Pink Floyd’s Nick Mason, Radiohead’s Ed O’Brien, British singer Sandie Shaw, producer CJ Bolland and the director of Younison, an artists’ lobby, Kelvin Smits.

Artists say that figure is in fact much higher and that societies have no incentive to pay up quickly, because of the returns they can make on the money in their hands.

Click Here