FMSMF Reports a Record Year

June 24, 2016

by Kim Roberts Hedgpeth, Executive Director Film Musicians Secondary Markets Fund (FMSMF)

The Film Musicians Secondary Markets Fund (FMSMF) works to serve the film, television, and music communities and meet the needs of film musicians whose talents fuel the industry. To this end, the FMSMF is pleased to provide ongoing updates to the International Musician for the benefit of AFM members.

It’s a new record! The FMSMF closed its 2016 fiscal year with the highest level of contributions in the fund’s history! When the books closed March 31, the FMSMF had received residuals of more than $93.4 million, surpassing the record of $92,641,562 set in FY 2015. The continued growth of contributions to the FMSMF during the past several years is a reassuring testament to the continued growth of revenue generated by sales in secondary markets, such as pay TV, DVDs, basic cable, and new media platforms. It is also a good news indicator about the health of this segment of the industry and its ability to sustain a middle-class living for freelance talent working in film and television.

Unclaimed Residuals

Thank you for helping to get the word out. The fund consistently strives to find “lost” musicians who have residuals waiting at the fund, but for whom we don’t have a valid address on file or contact information. With your help, during the 2016 fiscal year, the fund staff located 498 musicians and beneficiaries who had unclaimed funds, and distributed $859,208 in unclaimed residuals since April 1, 2015.

The FMSMF will continue to put emphasis on finding musicians with unclaimed residuals, and we ask for your help in getting the word out. Please check the FMSMF unclaimed residuals list at FMSMF.org “Unclaimed Checks” to see if you or a fellow AFM member you know has unclaimed residuals waiting for them. In particular, as a reminder about AFM-covered sound recordings: If a covered sound recording is used in an AFM-covered theatrical or TV motion picture, the musicians who worked on that recording may be entitled to secondary market residuals. 

New Films

The count is in for FY 2016: FMSMF received residuals for more than 250 “new” titles! Most of these newly reported titles were films and TV shows first released in 2012, 2013, or 2014, although some were older films and series that generated secondary market receipts and residuals for the first time.

The new titles for FY 2016 included feature films such as Trumbo, Fifty Shades of Grey, Jurassic World, Furious 7, Max, Pixels, and Annie. Among the new TV titles reporting for the first time during FY 2016 were American Crime (2015), New Girl (2014-2015), Black Sails (2015), Empire (2015), Dominion (2015), Olive Kitteridge, and Bessie. (An entire season of a multi-episode television series is counted as one title). FY 2016 new titles are posted on the FMSMF website at www.fmsmf.org/filmtitles/new-films.php.

AFM’s 100th Convention

FMSMF is proud to be an exhibitor at the Federation’s 100th Convention. We look forward to meeting with members at our exhibitor’s booth, and being available to answer questions and provide individual assistance. So if you’re attending the convention in Las Vegas, please drop by and say hello!