FILM MUSICIANS SECONDARY MARKETS FUND
The Fund is an organization borne of a labor agreement which functions as an agent for producers, independent of the interests of labor and/or management, and as a not for profit simple trust.
Our Mission is to:
- Effectively track, collect and distribute residual payments from the motion picture and television film industries
- Assist participating musicians in receiving payment of residuals due
- Provide leadership, assistance and service to film musicians, film producers, the music community and the entertainment industry worldwide
- Actively pursue undiscovered revenue sources—including those from new and evolving technologies—that are owed to participants and to work aggressively with the industry on piracy issues
- Continually improve Fund services with an on-going commitment to excellence --through progressive, innovative and proactive programs--to musicians, participants and the entertainment industry
- Provide Fund employees with a healthy, safe, rewarding and teamwork themed work environment that is responsive, professional and fun and also addresses individual desires to pursue personal, artistic endeavors.
THE HISTORY OF THE FUND - OUR FUNCTION & PURPOSE
The Theatrical and Television Motion Picture Special Payments Fund, renamed the Film Musicians Secondary Markets Fund ("the Fund") in 2003, was organized in 1972. The Fund is administered by a Fund Administrator.
The Fund was renamed the Film Musicians Secondary Markets Fund under the 2002-2005 Collective Bargaining Agreement to better reflect the true nature and function of the Fund and its services.
The Fund functions as an agent of the Producers and exists as an entity formed through a Collective Bargaining Agreement, whose terms are negotiated every three years, between the Alliance of Motion Picture & Television Producers (AMPTP) and the American Federation of Musicians (AFM).
The sole purpose of the Fund is to serve all those who are eligible to receive residual wage payments, including musicians who are participating members of the American Federation of Musicians, through its Local Unions.
Fund services include receiving employers' contributions remitted as required by the Collective Bargaining Agreement and the annual disbursement of these contributions to the participants. In addition, the Fund provides customer service for eligible participants, performs regular compliance reviews and actively pursues the collection of employer contributions for obligated films.