President Trump signed the Music Modernization Act into law on Thursday morning.

The act creates a Mechanical Licensing Collective that gives digital streaming services a blanket license in return for proper payments to songwriters and copyright owners. In addition, the bill improves the rate standard by which songwriters’ mechanical rates are determined. It also ensures that pre-1972 legacy artists are paid for their work when played on satellite and digital radio and codifies the process through which producers and engineers are paid.

Here’s how several prominent players in the industry responded to the news:

Paul Williams, president of ASCAP: “A young songwriter once wrote, ‘You give a little love and it all comes back to you; You’re gonna be remembered for the things that you say and do.’ Decades later, this could not be more true. Songwriters across this country now and in the future will remember those who fought so hard for the Music Modernization Act—both in Congress and across the music industry. On behalf of the music community, we are so thankful for the love and will return the favor with music for generations to come.”