New Recording Agreement
AFM’s negotiating team, comprised of recording musicians and our union’s leadership, has reached a new Sound Recording Labor Agreement (SRLA) with the major recording companies including Hollywood (Disney), Sony, Universal, and Warner.
The tentative three-year contract is a huge win for musicians who record under the SRLA, which sets minimum wage scales and working conditions for audio recordings—both studio sessions and live performances. When ratified, musicians will see improved pension and healthcare contributions, and 3% wage increases in each year of the contract.
With music consumption transitioning away from CDs and downloads, AFM’s negotiating team fought hard to connect residual and pension funding to streaming. For the first time, the SRLA requires the companies to contribute a portion of interactive streaming revenue to our Sound Recording Special Payments Fund (SPF) and the Music Performance Trust Fund (MPTF). New provisions also require the companies to make substantial guaranteed annual payments to the AFM & Employers’ Pension Fund (AFM-EPF) from streaming.
Musicians who work under the SRLA will receive a ratification letter and voting information in the coming weeks.