DiMA, SoundExchange Reach Minimum Fee Agreement
DiMA and SoundExchange reached an agreement today to cap the Internet radio "$500 per channel minimum royalty" at $50,000 per service, signaling the start of productive negotiations and bringing resolutions to three important music industry issues.
DiMA and SX also agreed that beginning in six months webcasters will provide SoundExchange with a full census of songs performed (24 hours a day, 365 days a year) - an important tool for the accurate distribution of royalties to independent labels and artists, and
In addition, SoundExchange and DiMA will form a committee to evaluate the issue of streamripping and potential technological solutions to it.
"This agreement marks an important first step in the internet radio royalty negotiation process," said DiMA Executive Director Jonathan Potter. "We're encouraged by this development and the knowledge that good-faith negotiations have begun. We look forward to the next step of negotiating the royalty rates that will allow for the growth of the Internet radio industry, a platform for music discovery for consumers."
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