Friday, August 24, 2007

Webcasters' Music Continues to Sound -- Deal Reached With SoundExchange

You may recall the recent protest by Internet radio stations -- many of whom participated in "the day the music died" -- due to anticipated major hikes in the royalties they would be expected to pay to SoundExchange (the organization that collects royalties for musicians and record companies).

Happily, cooler heads have prevailed and, not surprisingly, a deal has been reached amongst all parties that will permit online radio to continue playing the tunes. Specifically, SoundExchange agreed to cap fees at $50,000 per year per webcaster. More details about the deal are provided here.