The Mechanical Licensing Collective, which must be able to administer the new U.S. blanket licensing system for mechanical rights by its legislated start-up date of Jan. 1, 2021, estimates that it will need $37.25 million to build and then have a first year operating budget of $29 million.
The MLC's proposal was submitted to the Copyright Royalty Board, which has been charged by the Music Modernization Act with assessing how much funding will cost.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: