Petteri Pyyny
12 Feb 2004 15:51
A decision that is supposed to end a long legal fight over the webcasting (for average consumers that's Net radio) royalty rates was agreed by the major webcasters and the recording industry.
According to the agreement reached by the SoundExchange, a former RIAA subsdiary that was spun off to a separate organization last year, and DiMA that represents large webcasters such as AOL and Yahoo!, the new royalty rates for free, advertisement supported webcasts are $0.00076 per performance or $0.0117 per aggregate hour.
U.S. Copyright Office, who rubber-stamped the rates also nominated SoundExchange to be the sole designated agent to collect and distribute the royalties from webcasts.
Source: Reuters via News.com