Webcasters and record labels will be able to continue negotiating towards a new performance royalty rate for online radio services while Congress is on recess, assuming President Bush signs the Webcaster Settlement Act of 2008, which passed the House on Monday and the Senate on Wednesday.
"This legislation is not the final answer, but it is an essential step toward a lastingand much-needed solution," said SaveNetRadiospokesperson Jake Ward in a statement issued on Wednesday. " For more than eighteen months, our championsin Congress have fought battle after battle to ensure Internet radio’ssurvival and the prosperity of independent artists; that fight has notbeen in vain."
We confirmed that the bill has the support of webcasters and theRIAA/SoundExchange, but the National Association of Broadcasters (NAB)
raised objections to the bill to several members of Congress, thebill's backers to extend the negotiation deadline from December 15 toFebruary 15, giving AM and FM broadcasters more time to negotiate theirown rates.
NAB released a statement in response to the news: "With thislegislation now headed to the White House for President Bush'ssignature, NAB looks forward to sitting down quickly with SoundExchangeto craft equitable streaming rates that enhance the online musicexperience and expose more artists to our listeners."
Hopefully, webcasters will also be able to hammer out new performance royalty rates, because the ones handed down by the Copyright Royalty Board last year threaten to drive innovative sites including Pandora out of business.
See Also:
- House Of Representatives Passes Webcaster Bill
- Congress Considers Webcaster Bill Too, as Royalty Battle Ensues
- Advocates Demand Congress Put Bailout Details on Internet
- Rep. Barney Frank predicts bailout deal by Sunday
- U.S. Copyright Royalty Board Rejects Webcasters, Embraces SoundExchange
- Copyright Royalty Board Upholds "Disastrous" Royalty Rates
- U.S. Copyright Royalty Board Rejects Webcasters, Embraces SoundExchange
- Royalty Hike Panics Webcasters
- Webcasters Tell SoundExchange Its Deal Stinks
- Royalty Logic Seeks To Prove Copyright Board Unconstitutional
- DiMA and SoundExchange Trade Blows (Plus Weeklong Summary)
