Tuesday, September 23, 2008

Online Services Reach Royalty Deal

The recording industry, music publishers and online music services have revealed the details of a landmark royalty deal for streaming and limited downloads of music.

The agreement proposes a mechanical royalty rate of 10.5% of revenue, less any amounts owed for performance royalties for composition, for digital service providers that offer interactive streaming and limited downloads such as subscription and ad-supported services. When the settlement was first announced, details were kept confidential until they were submitted to the CopyRight Board in draft regulations.  For full story click here