The directive, which is designed to improve cross-border digital licensing, streamline royalty collection and combat piracy was welcomed by PRS yesterday. However, not all responses have been so positive.
"We are deeply disappointed by your choice to defend the interests of a minority of managers and stakeholders," said a letter signed by Pink Floyd's Nick Mason, Radiohead's Ed O'Brien, British singer Sandie Shaw, producer CJ Bolland and the director of artists' lobby Younison, Kelvin Smits.
It added: "You have broken your promises and encourage the management of collecting societies to keep the fruits of our creativity... You stole our hopes."
According to Reuters, the draft law demands that collection firms gathering music royalties on the behalf of artists also pay performers, composers and producers.
The draft law would give collecting societies 12 months after the financial year in which a track was played to pay rights holders. That's about half the time currently allowed in many countries.
However, when rights-holders connected to a piece of music remain unidentified after five years, EU collection societies would, under the directive, be able to keep the revenues - something some artists are not happy about at all.
"You thus legitimise one of the most problematic forms of embezzlement adopted by some collecting societies in Europe," the letter reads.
The EC estimates that in 2010 major societies owed 3.6 billion euros ($4.41 billion) in royalties to the creators.
The proposed law must be taken up by the European Parliament and approved by 27 member states to become law.