AFTRA Members Ratify Sound Recording Agreement Nationwide

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New York -- Members of AFTRA, attending meetings in six different cities, have voted to ratify the collective bargaining agreement reached between the union and major record labels BMG, EMI Music, Sony Music Entertainment, Universal Music Group (UMG) and Warner Music Group. Pursuant to AFTRA's Constitution, the agreement -- finalized in September -- was voted on by the membership in New York, Los Angeles, Chicago, San Francisco, Washington DC and Nashville.

Kim Roberts Hedgpeth, Associate National Executive Director and chief negotiator for AFTRA announced that the Trustees of the AFTRA Health & Retirement Funds have also approved the contract. The crucial element of the new agreement is an innovative arrangement that guarantees access to basic AFTRA health plan coverage for all AFTRA-covered royalty artists who are under exclusive contract to a label. "Everyone, on both sides, recognizes the value and the significance of providing basic health insurance for recording artists," said Hedgpeth.

"The hard work of record companies and AFTRA to provide health care coverage for roster artists is now a reality. This is an extraordinary achievement, especially given the current economics of the music business these days," said Mitch Bainwol, Chairman and CEO of the Recording Industry Association (RIAA). "The collaborative efforts of the recording industry and AFTRA have paid dividends for everyone involved. We look forward to continuing to work with AFTRA and its members on the many issues that collectively confront the music community."

The new four-year agreement is effective as of July 1, 2002 through and including June 30, 2006. AFTRA members working under this contract will also receive increases in base session rates, contingent scale payments [based on units sold], increased pension participation and other gains.

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