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Over 700 indie labels have joined forces to support a new initiative that would make the process of digital revenue and accounting much more transparent. Among the labels backing the new program are Domino, Sub Pop, Ninja Tune, the Beggars Group, which represents 4AD, Rough Trade, and Matador, and Secretly Canadian. Via Billboard Biz:

Included within the ‘Fair Digital Deals Declaration’ are five key points that signatories agree to abide by. They are:

1. Ensure that artists’ share of download and streaming revenues is clearly explained in recording agreements and royalty statements in reasonable summary form.
2. Account to artists a good-faith pro-rata share of any revenues and other compensation from digital services that stem from the monetization of recordings but are not attributed to specific recordings or performances.
3. Encourage better standards of information from digital services on the usage and monetization of music.
4. Support artists who choose to oppose, including publicly, unauthorized uses of their music.
5. Support the collective position of the global independent record company sector.

In addition, the Worldwide Independent Network (WIN) offered up a ten-point Global Independent Manifesto:

“We oppose further consolidation in the recorded music, publishing and radio sectors since this is bad for independent music companies, their artists and fans,” the ten point pledge additionally states.

“Why wouldn’t we treat artists fairly? It seems so obvious that we shouldn’t have to say it, but let’s say it, loud and proud,” commented Martin Mills, Group Chairman of the Beggars Group, in a statement to launch the declaration.

The campaign launches today.