So, it's no surprise that labels were holding mechanical publishing payouts for often indefinite periods. Part of this is borne of necessity—timing is everything, and labels frequently have to skip steps to get something out the door.
The only problem is that many of the payouts are unidentified (so-called 'Pending & Unmatched), and end up in the 'circular account' forever. So, here's where NMPA chief David Israelite played white knight last year, and started to loosen those payouts—while temporarily waiving late fee requirements for labels. Great move, though matching the monies is quite the tall task, and Israelite even called in Kenneth Feinberg to help disperse funds using market share formulas and claims (yeah, it's complicated, read on...)
Anyway, the Harry Fox Agency (HFA) is critical to the dispersement, and the group recently partnered with Digital Music News to help get the word out. This is a specific crowd, though publishers who think they may be owed payouts from the labels for the years 2007-8 ("phase II") should definitely check this out. Foreign (ex-US) societies should also take a gander. The total pot is $36 million.
Phase II details here.
