CRB TO BOOST ROYALTIES ON PHYSICAL, DOWNLOADS

Representatives of songwriters, publishers and labels have announced a settlement of litigation before the Copyright Royalty Board (CRB) that will boost U.S. royalties for physical sales and downloads to 12 cents per copy, a 33% spike over the prior rate. This significantly higher rate will be adjusted annually per the consumer price index.

The settlement, which has a five-year term, will now be considered by the CRB, which kiboshed an earlier agreement on the matter. The RIAA, National Music Publishers Association (NMPA) and National Association of Songwriters led the charge, with heavy participation by songwriter/activist George Johnson. Many biz players and creators who weighed in during the CRB’s comment period were said to have been consulted in the process.

“After wide consultation with songwriters, publishers and labels, we are glad to have reached a solution we believe addresses the core concerns of the CRB judges and the individuals and organizations who shared their views during this proceeding,” reads a quote from RIAA chief Mitch Glazier. “As a music community, we are strongest when we come together to forge lasting and sustainable win-win deals.” Mitch also declined to accept a copy of our new 7" single, "Hey Buddy, Pay Me."

"This extremely positive result is due in large part to the creators who made their voices heard in the CRB process," reads a quote from NMPA President/CEO David Israelite. "With this settlement filed, we clear the way to focus solely and tirelessly on raising streaming rates. As we battle the biggest companies in the world, who are pushing for the lowest royalty rates in history, songwriters and their advocates stand more united than ever."

Stay tuned for updates.