What is Film Musicians Secondary Markets Fund?
This is a not-for-profit organisation that collects and distributes residual payments to musicians who work in film and television.
Where have you heard about Film Musicians Secondary Markets Fund?
It made the news in April 2017, when MGM and Paramount were sued over payments for musicians who worked on the 2016 film Ben Hur. A report alleged that the companies failed to pay residual revenue contributions to the Fund.
What you need to know about Film Musicians Secondary Markets Fund.
It was first set up in 1972 as part of an agreement between the American Federation of Musicians and the Alliance of Motion Picture and Television Producers. The organisation rebranded under its current title in 2003. The Fund is based in California and has more than 45,000 participating members. Each July, the organisation distributes residuals received throughout its fiscal year to musicians. The Fund is administered by an executive director.