Veteran musical performers are in line for a windfall because of an EU extension on royalty payments by a further 20 years from 50 years currently to 70 years, The Sunday Times and The Sunday Business Post report.
Composers and lyricists currently retain copyright for their lifetimes plus 70 years after their death but performers never received the same rights. This means artists such as Dickie Rock, Brendan Bowyer and Red Hurley can all expect a revenue stream into the future.
The EU has also made it compulsory for record companies to set aside 20% of all royalties for session musicians. They must also release and market old material or ‘lose it’ to those who made it.
“Many musicians who worked on the biggest hits of the time have never had any financial reward from royalties, so this will put that right,” said artist Paddy Cole.