Last week, the music industry participated in #BlackOutTuesday, vowing to take a step back and discuss the current situation and how to make things better. BMG, one of the largest record labels in the world has just put out a press release saying they are going beyond posting a black square and will reevaluate their past royalty structures to be more fair.
The press release reads:
BLACKOUT TUESDAY: ONE WEEK ON
We are determined that last week’s action is more than a black square in a social media post or a series of slogans.We need to play our part in addressing historical injustices inflicted on black people.
Last Wednesday we embarked on a journey designed to make lasting change.
We know we cannot change the world by ourselves, but we are determined to change our part of it. For the better.
Mindful of the music industry’s record of shameful treatment of black artists, we have begun a review of all historic record contracts. While BMG only began operations in 2008, we have acquired many older catalogues. If there are any inequities or anomalies, we will create a plan to address them. Within 30 days.
In common with many music companies, at BMG the reality is that black people are not as well represented as they are in the populations in which we operate. We are not as diverse as we could be. Despite numerous initiatives over the years, we have not made sufficient progress. We pledge to do so and will produce a plan to do so. Within 30 days.
Racism and social injustice exists in all 12 countries in which we operate. We need to play our part in tackling it. Each BMG office will create a plan to do so. Within 30 days.
Blackout Tuesday was an important moment of reflection. The real test for us all is now to come up with a credible plan for change.
We are committed to do so.
#BlackLivesMatter
Your BMG Team
The news reminds me of this scene in the Sopranos, where a rapper comes to Tony Soprano's Jewish advisor, Hesh, who made his money as a music executive, asking for past royalties from his ancestor that were not distributed fairly.
[via Hypebot]
