The Music Modernization Act (MMA) was signed into law on October 11, 2018. The MMA is intended to modernize copyright law to address music licensing in the digital age. The new law aims to streamline the licensing process for digital music streaming services, to ensure that artists are more fairly and reliably compensated, and to create new standards for setting royalty rates.
For more information about the law, visit the U.S. Copyright Office's Music Modernization Act webpage.