The federal Copyright Royalty Board (CRB), which sets royalty rates for recording artists and labels, and the National Association of Broadcasters have resolved a dispute that threatened to shutter thousands of Internet radio stations as well as Web music sites.
AP: The new deal lowers those rates by about 16 per cent in 2009 and 2010. The stations will now pay $1.50 for every song heard by a thousand listeners in 2009, rising to $2.50 per 1,000 listeners in 2015.
The CRB did not reach a deal with the Digital Media Association (DiMA), which represents Pandora, RealNetworks (RNWK) and MTV. Those negotiations failed to resolve before today’s deadline. DiMA will probably file an appeal with the CRB; its individual members could do the same.
NOW WATCH: Tech Insider videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.