U.S. Senate Passes The Webcaster Settlement Act
On Monday, we told you about how the The House of Representatives unanimously passed a bill that would help save internet radio as we know it. Today it rolled through the Senate and President Bush is set to sign it later this week. Some of the smaller stations would have shut down immediately followed by a few of the big ones. In simple terms this basically overturns the new fee structure and rolls back the clock on the licensing fees. I know my friends at 3wk.com will find this good news. Internet radio lives to fight another day. I’m sure the people over at Pandora and a few of the other giants will be throwing parties when this gets signed in.
The U.S. Senate passed the Webcaster Settlement Act of 2008, sending it to President Bush’s desk for signature two days after the U.S. House of Representatives okayed the bill. The bill allows for SoundExchange, on behalf of copyright owners and performers, to negotiate with Internet radio services through 2015 an alternative royalty agreement while Congress is in recess. The negotiations are aimed at setting aside a 2007 decision by the Copyright Royalty Board that set a royalty rate that Internet radio participants said would endanger the fiscal health of webcasting. If the President signs the bill and new royalty agreements are reached, it would set a royalty rate retroactive to 2006, and allow for a framework that could resolve future disputes through 2015, according to an announcement by the Digital Media Association (DiMA). “On behalf of DiMA and our Internet radio members, I want to thank Congress for acting quickly to pass the Webcaster Settlement Act,” said DiMA executive director Jonathan Potter, in a statement. “This legislation will enable DiMA and our member companies, and all Internet radio services, to continue negotiating royalty rates with SoundExchange for the years 2006-2015. We are very hopeful of reaching agreement soon, and thereby creating long-term stability that will re-energize the Internet radio business.”
Source: Billboard
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