SiriusXM Cites 'Direct Content Licenses' With Over 60 Labels
December 19, 2012 at 11:02 AM (PT)
During the same CRB panel which raised the SIRIUSXM's royalty rates in the coming years (NET NEWS, 12/17), the satcaster also testified that it has secured direct content licenses with '60-plus' labels, with more than 7,000 artists, 9,000 albums, and 110,000 songs represented, DIGITALMUSICNEWS.COM reports. SIRIUSXM will pay 5%-7% of its gross revenues for these licenses.
"These licenses present the best possible evidence of how a competitive market values the rights covered by the statutory license -- involving as they do transactions including the very same rights between the very same buyer and sellers as are involved in this proceeding," the company declared.