The major record companies emerged victorious as the Free Artists From Industry Restrictions (FAIR) Act failed to pass a major hurdle in the California State Senate on Tuesday
At the request of legislators, the version of AB 983 heard by the Judiciary committee Tuesday had been amended to be more label-friendly from thethrough the California Senate’s Labor, Public Employment and Retirement committee on June 22 but it still did not earn the bill enough votes to pass.
Though ultimately unsuccessful, Kalra indicated during the 40-minute hearing that he wanted to find more ways to propel the bill forward and amenable both to the opposition and legislators. In addition to the advance repayment, he called for a departing act to reimburse the label 130% of any recoupable expenditures, such as recording costs, already spent by the label on any undelivered albums.
Posen, who started Hopeless nearly 30 years ago, pled the case for indie labels that sign artists in “genres that big companies aren’t going to take a chance on. We are the companies who believe in long term artist development and take the time to really develop someone’s career,” noting that artists are signed for a number of albums, not a number of years. “What we do need is a clarity of how many albums we have so know how to plan and how to invest.
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