Intended to update music copyright law for the digital era, H.R. 1551 (formally the “Orrin G. Hatch-Bob Goodlatte Music Modernization Act”) accomplishes three key things: making sure songwriters and artists receive royalties on songs recorded before 1972; allocating royalties for music producers; and updating licensing and royalty rules for streaming services to pay rights-holders in a more streamlined fashion, via a new, independent entity.