"le 5 continued)

The majority of royalty payments from record com-
panies to music publishers are made through the
Harry Fox Agency. Robert R. Nathan Associates
carried out a survey of the records of these
payments for the fourth quarter of 1974. A similar
study was made for the second quarter of 1965. The
results of this earlier survey were presented on
February 25, 1966 in the Second Supplementary State-
ment of Robert R. Nathan on behalf of the Music
Publishers' Protective Association (now the National
Music Publishers' Association), before the sub-
committee on Patents, Trademarks, and Copyrights of
the Committee on the Judiciary, 89th Congress, Second
Session.

The three largest record companies were included in
both of the tabulated samples. They accounted for
41 percent of the payments through the Harry Fox
Ateny in the last quarter of 1974. For each of
these three record companies the twenty largest music
pitlishers in terms of royalty payments were deter-
Pined in the most recent survey; those twenty differ
for the various record companies. A total of 47
f..shers were included. In the 1965 survey six
Publishers per record company were analyzed. This
a rich larger sample has been taken in 1974. How-
ever,
to provide direct comparability with the 1965
results, tabulations have also been made for the
fourth quarter of 1974 for a subsample consisting
of the six largest music publishers for each of the
three largest record companies. Total payments for
*e in up analyzed in the fourth quarter of 1974 in
the full sample of 20 pit lishers per retoricmpany
were 5..34 million, covering the sale of 144.6 million