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New Net Royalty Agreement & Disagreement
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posted by justfred
on Monday October 07, @10:12AM
from the royal-pain dept.
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(Reuters)Webcasters and the record labels whose songs they use have struck a new royalty payment deal, replacing the Library of Congress' per-song rate. Small online broadcasters, who protested the per-song payment plan set to begin in two weeks, have agreed to pay a rate of between 8 percent and 12 percent of revenues or expenses, whichever was larger. Larger Webcasters were not included in the agreement and will pay the per-song rate.
Disagreement between the record labels and musicians, however, currently threatens the deal.
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The record labels and musicians will need to settle on how to distribute the anticipated royalties in order for the agreement to become law. Under a previously reached agreement, royalty money would be distributed directly to musicians, rather than going through record companies, after lawyers' fees and other expenses were taken out. The new agreement, however, does not guarantee that musicians will be paid directly.
If musicians and record labels settle on a payment scheme, the House of Representatives will likely ask Congress to codify the agreement in law this week.
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