Done Deals: SoundExchange Signs Royalty Pacts With More Parties
August 3, 2009 at 4:22 PM (PT)
SOUNDEXCHANGE has reached new agreements with SIRIUS XM, COLLEGE BROADCASTERS INC., and the NATIONAL RELIGIOUS BROADCASTERS License Music Committee, reports DIGITAL MEDIA WIRE. The deals set royalty rates for music streamed online by the broadcasters through 2015, and feature "pre-set annual increases to reflect the rising value of sound recordings."
"SOUNDEXCHANGE is always looking for creative business solutions, as long as they are also fair to the creators of the music," SOUNDEXCHANGE General Counsel MICHAEL HUPPE said. "Agreements like this one are an important step forward for the industry, and should enable SIRIUS XM to grow its webcasting business while appropriately compensating artists and rights holders."
SOUNDEXCHANGE and the NATIONAL RELIGIOUS BROADCASTERS Music License Committee have agreed that religious and non-commercial stations will pay a "per performance," which SOUNDEXCHANGE will distribute to the artists and rights owners who helped to create that recording. The rate will rise steadily each year through 2015. Small stations may also be eligible to pay an additional fee to be exempted from requirements that they report each recording played.
At Mi2N.COM, HOUSE JUDICIARY Chairman HOWARD BERMAN said of the agreement, "I want to thank all the people who spent long hours in my office working towards a solution that works for artists, webcasters and most importantly music fans. It was worth every moment to ensure that new technologies recognize that creators should have the opportunity to thrive."