Monday, July 16, 2007

Webcasters Get Royalties Reprieve

SoundExchange has temporarily agreed not to enforce the webcast performance royalties set to go into effect on July 15, according to the SaveNetRadio Coalition. SaveNetRadio was formed after the Copyright Royalty Board announced new, higher performance royalties on March 2 -- rates most webcasters say would all but bankrupt their industry. SaveNetRadio said on its Web site, "Congress and SoundExchange have heard loud and clear the amazing outpouring of support for Internet radio from webcasters, listeners and the thousands of artists they support. A commitment has been made to negotiate reasonable royalties, recognizing the industry's long-term value and its still-developing revenue potential. During negotiations, SoundExchange committed temporarily not to enforce the new royalty rates so webcasters can stay online as new rates are agreed upon." SaveNetRadio continues to encourage Net-radio listeners to contact lawmakers in support of the Internet Radio Equality Act, which would set aside the CRB rate increase and set a transitional royalty rate of 7.5% of revenue for 2006-2010.

By Brida Connolly - radioandrecords.com

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