Tag Archives: funds

Streaming Funds Pension, Residuals in New Label Deal

I am pleased to report that agreement has been reached with the recording industry for a successor Sound Recording Labor Agreement (SRLA). When ratified, the agreement will extend three years, from February 1, 2017 to January 31, 2020.

Besides significant gains in upfront payments—including yearly 3% wage increases, and improvements in pension contributions, health & welfare payments, and cartage payments—the agreement provides for significant additional payments to the Sound Recording Special Payments Fund (SPF), the Music Performance Trust Fund (MPTF), and AFM & Employers’ Pension Fund (AFM-EPF) driven by the companies’ digital streaming revenue.

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Film Musicians Secondary Markets Fund

Film Musicians Secondary Markets Fund End of Year Round-Up

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

Film Musicians Secondary Markets FundThe 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.

“New” Films

With the first six months of the FMSMF’s 2017 fiscal year now ended as of September 30, at the time of this writing, more than 150 new titles had reported residuals into the fund for the first time. Among the titles reporting for the first time this year are films such as The Peanuts Movie, Ride Along 2, Star Wars: The Force Awakens, Chi-Raq, Joy, and Deadpool, and television series such as Minority Report, 24: Live Another Day, The Catch, Agents of S.H.I.E.L.D. (2015/2016), and Wicked City. The list of “new” titles for fiscal year 2017 is now posted on the fund’s website, www.fmsmf.org, and will be updated as new titles report into the FMSMF for the first time during the remainder of the 2017 fiscal year.

As a reminder, when the FMSMF refers to “a title,” it refers to an individual motion picture, documentary, or television movie, or a single season of a television series.

2016 Distributions

The FMSMF distributed more than 15,600 payments to musicians and beneficiaries as part of its regular distribution on July 1, 2016. Another 545 payments were distributed in mid-September as part of the fund’s annual “omissions” distribution.

Learn More About FMSMF

The FMSMF was honored to conduct a workshop, entitled “FMSMF 101” for AFM Local 47 (Los Angeles, CA) members. This workshop is for the benefit of musicians who would like to learn more about the fund, how residuals work, and what the fund does to collect and distribute residuals to working musicians. FMSMF staff is always happy to provide such workshops for the benefit of working and aspiring musicians, and is available to travel to AFM locals outside of the Los Angeles area to conduct workshops at the local’s request.

Spreading the Word

FMSMF was proud to be an exhibitor at the American Film Market, November 2-9, 2016, in Santa Monica, California. This is one of several efforts the fund makes annually to reach independent producers and provide information, answer questions about film scoring, and about how the FMSMF works. These are also critical opportunities to remind new and aspiring filmmakers about the integral role that music plays to successful filmmaking, and the importance of planning ahead when budgeting. The FMSMF also attended the Toronto Film Festival in September, and plans to attend South by Southwest 2017 in March.

Visit Us on Facebook

Stay current with fund developments by visiting the FMSMF Facebook page and the website www.fmsmf.org. There you will find updates on fund policies, information on new titles, and new user features. 

From everyone at the Film Musicians Secondary Markets Fund—nest wishes for a healthy and prosperous 2017!

Top 10 Reasons to Record AFM

In summary, and with apologies to David Letterman, the EMSD staff have compiled the Top 10 most important reasons why you should record under AFM agreements:

1Standard wages—You are guaranteed to receive at least the minimum standards for your services.

 Doubling and overdubs—In addition to the wage payments, the employer is required to make payments for your doubling and overdub services.

 Foreign use—If you perform services in the production of a show produced under most of the AFM’s television agreements, aside from the payment due to you for your original services, if the program is broadcast overseas, you will receive additional payments.

DVD payments—If the program is released into the DVD format, you will be entitled to additional payments that will continue to accrue based on the gross receipts.

Pension fund contribution—The employer is required to make a pension fund contribution on your behalf, which puts your session work into the system.

Health and welfare fund contribution—The employer is required to make a health and welfare contribution, either to the health plan of your local (if it has one), or directly to you.

Special payments fund—If you perform services on a session(s) for a sound recording, you are guaranteed to receive payments from the Sound Recording Special Payments Fund for the next five years.

Secondary markets fund—Under the Basic Theatrical Motion Picture or Television Film Labor Agreements you will qualify for distributions from the Film Musicians Secondary Markets Fund, should the film be released to outlets such as pay cable TV or the home video market.

 Reuse—Under the Commercial Announcements Agreement you will receive periodic reuse payments for any new cycles the commercial(s) enter into.

And the number one reason to record AFM:

 New use—If you perform services under an AFM agreement and your product is licensed for use in another medium, such as a theatrical motion picture, television film, or commercial announcement, you will be entitled to additional payments as if you had performed the work under that agreement.

Do We Have Money for You? Check the New Films and Claimed Payments

by Kim Roberts Hedgpeth, Fund Administrator, Film Musicians Secondary Markets Fund

The Film Musicians Secondary Markets Fund (FMSMF) works to serve the film, television and music communities. To this end, the FMSMF is pleased to provide ongoing updates to the International Musician.

“New” films: The FMSMF received residuals for 137 “new” titles during the first seven months of the FMSMF 2014 fiscal year (from April 1 to October 31). Most of these newly reported titles were films and TV shows first released in 2012, 2013, or 2014, although a number of titles were older films and series that generated secondary market receipts and residuals for the first time.

Forty-four of the new titles were theatrical films—from big budget features such as Frozen, Captain Phillips, and Secret Life of Walter Mitty, to smaller films such as Nebraska, The Best Man Holiday, and At Middleton, which generated both critical recognition and secondary markets sales. Ninety new TV titles reporting for the first time included the 2013-14 seasons of Walking Dead, American Horror Story (Coven), Nashville, Sleepy Hollow, and Smash. In most cases, a full season of a series’ individual episodes is reported as one title, although there were 11 individual episodes of two PBS series reported as individual titles. New media is now emerging, with the first two seasons of Netflix’s House of Cards reporting residuals to musicians for the first time. Of course, additional new titles will remit secondary market residuals earned by musicians during the remainder of the fiscal year, which ends March 31, 2015.

Residuals paid to the FMSMF between April 1, 2015 and March 31, 2015 will be paid out in the July 1, 2015 distribution. A list of new titles for fiscal year 2014-15 can be found at the FMSMF website, www.fmsmf.org/filmtitles/newfilms.html, which our staff updates throughout the year. Please check our website at www.fmsmf.org to view both the list of new titles, as well as a list of all titles reporting so far during this fiscal year.

Unclaimed residuals: Thank you for helping to spread the word! During the first seven months of the FMSMF’s fiscal year, we distributed more than $900,000 of unclaimed secondary market residuals to musicians and beneficiaries who had not been previously found. This year, we’ve added to our existing efforts to find musicians and beneficiaries who may have unclaimed residuals. We’ve put our message encouraging musicians to check our unclaimed list into trade publications, added it to communications with AFM locals, and reached out to venues. We’re making progress, but still need your help. Please check our unclaimed residuals list at www.fmsmf.org/unclaimedchecks to see if you, or fellow AFM members, have residuals waiting.

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. If you work on a sound recording session, make sure your B-4 form is complete and filed with the union. One day that recording may generate secondary market residuals for you.

From the staff at the FMSMF—best wishes for a happy, healthy, and prosperous New Year!