 Sound Exchanges offers cable radio ·Nov 6, 03:07 PM From SaveNetRadio: “The SaveNetRadio Campaign today expressed surprise and hope upon learning that SoundExchange has formally proposed that cable radio services pay royalties between 7.25% and 7.5% of their revenue to sound recording copyright owners and recording artists. “This proposed rate, effective from 2008 to 2012, is virtually identical to rates endorsed by more than 140 cosponsors of the Internet Radio Equality Act, but rejected by SoundExchange and the Recording Industry Association of America. “‘Perhaps this agreement means that SoundExchange agrees that 7.5% of revenue is a fair rate; they just prefer that the rate not be legislated,’ Jake Ward, a spokesperson for the SaveNetRadio campaign said. “‘The Internet radio industry has never asked for more than royalty parity and an opportunity to grow their businesses to the benefit of artists, consumers, and even record labels. Perhaps SoundExchange’s agreement that cable radio should pay 7.5% of revenue is a precursor to an equivalent offer for Internet radio services. It is hard to imagine that recording industry interests would continue to reject Congressional legislation and webcasters’ efforts to set fair royalty rates while simultaneously agreeing to the same standard for cable radio services.’ “The Internet Radio Equality Act — H.R. 2060 and S. 1353 — would vacate the March 2nd Copyright Royalty Board’s decision and set a 2006-2010 royalty rate at a competitive level with royalties paid by cable and satellite radio services (7.5% of revenue.) The bill would also change the royalty rate-setting standard used in royalty arbitrations, so that the standard applied to webcasters would align with that applied to cable and satellite radio.” Read this entire press release online here. Printable .pdf version here. share: del.icio.us.  Reddit  Digg  Yahoo  Wink  Windows  Google  Newsvine 
Commenting is closed for this article.  Other stories RAIN 10/6: Last.fm updates iPhone app; Hanson to speak on online panel today at 12N ET RAIN 10/3: Chicago LPFM group to launch webcast while continuing push for license RAIN 10/2: Sirius XM offers a la carte; Sprint launches WiMax in Baltimore RAIN NEWS FLASH: Senate passes Webcaster Settlement Act; bill now goes to Bush RAIN 9/30: Mortgage bail-out meltdown presumably distracts Congress from webcast bill RAIN 9/29: Webcasting bill passes unanimously in House, moves to Senate RAIN 9/26: New legislation would extend negotiations over royalty rates RAIN 9/25: DI starts online magazine; MySpace music launches RAIN 9/24: Some sources still getting story wrong on royalty settlement RAIN 9/23: Despite what you've read elsewhere, Internet radio deal NOT done! |
