#TNM The New Movement, a global non-profit organization for working artists, enacted a petition to stop unethical money hoarding by record companies in relation to their content creators.
The Petition Reads as Follows:
Major record companies are holding over 50 million dollars in “unclaimed” royalties.
These major companies should be ordered to find the individuals they owe and pay them immediately without unnecessary delay. If individuals which are owed money can not be found or for some reason can not be paid. Their money should then go immediately to their family. If there is no family and the individuals can not be compensated for their product. These companies should be made to give this money in service to restore the music programs which have been lost in the public school system or in service to any nonprofit or educational organization which assists in preserving the art or caring for the well-fair and over all quality of life of artists.
This monopoly has been allowed long enough. The lack of checks and balances has caused professional and talented people to be treated as a joke and has allowed an entire business community to become a farce. This should be the demand of the highest court and failure to meet it should cause doors to be shut and these companies who have run things in unethical fashion for decades to close permanently.
American Singer/Songwriter/Poducer 