Obama Signs Webcaster Settlement Act
July 1, 2009 at 3:50 PM (PT)
President BARACK OBAMA has signed the Webcaster Settlement Act of 2009. As reported by APPSCOUT.COM, The bill gives the labels and Internet radio stations 30 days to come to an agreement over how much Web stations should pay to stream their music.
A similar bill signed by Pres. BUSH last year set a deadline of FEB. 15th, 2009 but a deal was not reached. Earlier, SOUNDEXCHANGE reached royalty pacts for sound recordings outside the COPYRIGHT ROYALTY BOARD determination with a few groups of webcasters (CPB, NAB, hobbyist webcasters). However, "pureplay" webcasters, small commercial webcasters, and religious broadcasters still don't have royalty deals -- which, if they're too much, could put them out of business.