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The Fund will make a special distribution on August 27, 2018 to over 8,600 musicians, based on a settlement with certain record companies of audit claims from 2012 through 2016. Under the terms of the settlement, the amount is required to be treated as if it had been received by the Fund in five equal amounts over the years 2012 – 2016, and is payable to musicians whom were eligible for a payment for those distribution years.

For more detailed information regarding the special distribution, see a copy of the Fund’s letter below that will accompany each participating musician’s payment.

August 27, 2018

Dear Participating Musician:

The Sound Recording Special Payments Fund (“Fund”) is pleased to enclose a check that represents your portion of a special distribution resulting from payments to the Fund by certain record companies in settlement of all audit claims for the years 2012 through 2016. The settlement was finalized in April 2018.¹ You must cash or deposit the check by November 25, 2018, since the Fund’s bank will not honor checks submitted for payment after that date.

The settlement proceeds (approximately $1.9 million after deducting the Fund’s portion of payroll taxes and expenses) are being distributed to musicians as if received by the Fund in equal amounts for the five years covered by the settlement, and on the same pro rata basis as the distributions made for each of those years.

As an example, if a musician’s percentage of the total distribution for 2012 was 0.0005, his or her portion of the special distribution for 2012 will be that same percentage ($396,000 x 0.0005) = $198.00). The enclosed check represents your total portion of this special distribution, which is based on the years in which you were eligible for a payment as covered by the settlement (2012 - 2016).

On another positive note, the Fund is excited to announce that in the next year we will be launching a new website with many updated features, including state-of-the-art security and the ability to change your address, passwords and beneficiaries without requiring the Fund’s help. In the meantime, please visit our existing site, www.sound-recording.org for important information about the Fund, including a link to Money Owed Musicians, which lists musicians owed money from any of the Fund’s four distributions (i.e. Main-annual, Traditional Music video, Concert video and Sampling), as well as answers to frequently asked questions.

Best regards,

V. Robert DiPaola

V. Robert DiPaola
Fund Administrator

¹The settlement was agreed to as part of the 2017 Sound Recording Labor Agreement negotiations and consists of payments from Sony Music Entertainment, UMG Recordings, Inc. (and its affiliated labels, including EMI and Capitol), and Hollywood Records.