The proposal provides that collecting societies will have to pay royalties within 12 months after the financial year in which a song was played. Collecting societies are allowed to keep the fund if the copyright holder can’t be identified within 5 years. According to the group of artists, the 5 year period will encourage collecting societies to keep the money and reduces the incentive to find the copyright holders. “You have broken your promises and encourage the management of collecting societies to keep the fruits of our creativity. You stole our hopes.” the letter reads.
