In an unprecedented step, the Film Musicians Secondary Markets Fund will distribute $99 million to some 17,000 members of the American Federation of Musicians and their beneficiaries on May 22 – mo…
The non-profit Fund collects, allocates and distributesto scoring musicians represented by the AFM from payments derived from the exhibition of theatrical, television and new media motion pictures in supplemental re-use markets.
“The millions of dollars being sent to musicians and their beneficiaries this week will hopefully serve as a critical lifeline to ease some of the stress on the industry’s scoring musicians who have been devastated by the unforeseen, abrupt and widespread job losses caused by this pandemic,” said Fund executive director Kim Roberts-Hedgpeth. “Professional musicians in film and television make their livings through a combination of session work and residual payments.
In addition to its annual distribution, normally scheduled for July 1 each year, the Fund distributes residuals derived from supplemental market exhibition of live and videotaped programs through a smaller “LTVF” sub-fund. FMSMF also processes and distributes unclaimed and “reissued” residual payments throughout the year, as well as an “omission” distribution each September.
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