Yesterday, the Senate passed a bill called, the Webcaster Settlement Act of 2008.
This legislation insures that settlements reached between SoundExchange and webcasters will become law, superseding the current Copyright Royalty Board (CRB) rate determination from March 2007.
Our Internet radio provider, Live365, is proposing that SoundExchange include the special rates and terms for small webcasters as were previously enacted by Congress (Small Webcaster Settlement Act of 2002) and extended by SoundExchange (Small Commercial Webcaster Term Sheet 2007).
This would resolve the issue with SoundExchange’s current Small Webcaster offer which is limited to only a portion of artists–those that have directly registered for representation by SX. This bill insures that existing agreements reached between SX and webcasters would cover all artists’ performances.
The only problem with this bill is that nothing has been resolved in regards to a set royalty fee…at least, not yet! Negotiations between SoundExchage and the Internet radio industry continues.