Copyright Royalty Board Sets New Royalty Rates
On Friday, December 30th, the U.S. Copyright Royalty Board (CRB) officially accepted a negotiated music industry settlement that sets songwriters’ streaming royalty rates from January 1st, 2023, through 2027.
Songwriters and music publishers will receive a phased-in rate based on U.S. streaming service revenue of:
15.1% in 2023
15.2% in 2024
15.25% in 2025
15.3% in 2026
15.35%. in 2027
The settlement was initially negotiated amongst a wide-ranging group of music industry trade groups, including the National Music Publishers’ Association and the Digital Media Association representing major streaming services, including Spotify, Amazon Music, and others.
The settlement was initially negotiated amongst a wide-ranging group of music industry trade groups, including the National Music Publishers’ Association and the Digital Media Association representing major streaming services, including Spotify, Amazon Music, and others.
Read the full final CRB ruling here.
Hat Tip https://www.musicconnection.com/copyright-royalty-board-sets-new-royalty-rates/
