The Copyright Royalty Board has ruled to increase songwriter rates for interactive streaming by nearly 40% over the next five years. This happened during a ruling issued early Saturday. Equally important, the Copyright Royalty Board simplified and strengthened the methods used to pay mechanical royalties to songwriters. To accomplish this, they modified the terms in a way that offers a foothold in the free-market.
About the Copyright Royalty Board
The Copyright Royalty Board consists of three copyright royalty judges appointed by the Librarian of Congress. They determine rates and terms for statutory copyright licenses. They make determinations on the required license royalties collected by the United States Copyright Office. Under the Copyright Royalty and Distribution Reform Act of 2004, the board was created. When the Copyright Arbitration Royalty Panel system was phased out in May 2005, the board became effective.
Copyright Royalty Board Ruling
The ruling favored the National Music Publishers’ Association and the Nashville Songwriters’ Association International. It amounts to one of the most significant rate increases granted in Copyright Royalty Board history. As a result, companies including Amazon, Apple, Google, Pandora, and Spotify will have to pay more to use music.
Continue reading Copyright Royalty Board Boosts Songwriters’ Streaming Pay 40% at One EDM.
Source: oneedm.com
