Sound Recording

The Sound Recording Special Payments Fund (SRSPF) is a 501(c)(6) not-for-profit organization based in New York, NY. The fund collects and distributes residual payments to musicians for their contributions to sound recordings. These payments are made by record companies under their collective bargaining agreement with the American Federation of Musicians (AFM).

The SRSPF operates by receiving payments from record companies based on the exploitation of sound recordings, such as audio subscriptions and streaming services. These payments are distributed to eligible musicians according to the terms outlined in the Sound Recording Labor Agreement (SRLA) and the SRSPF Agreement. In addition to collecting and distributing payments, the SRSPF also performs administrative functions, including identifying eligible musicians, calculating payment amounts, auditing record companies, and issuing year-end wage and tax statements.

The fund has a history dating back to 1964 when it was established by the AFM and record companies. Over the years, as technology and the recording industry have evolved, the SRSPF has adapted to new music products and revenue streams. Currently, the fund receives payments primarily from audio subscriptions and streaming services.

The SRSPF operates with integrity and efficiency, providing exceptional service to musicians. They are dedicated to their mission of collecting and distributing residual payments and continually adapt to changes in the music industry. Please note that the information provided is based on the scraped HTML text and may need verification from an official source