Songwriters Score Win Over Streaming Services With Pay Hike
From Bloomberg
Songwriters will get a larger cut of revenue from streaming services after a court handed technology companies a big defeat.Read more: https://www.bloomberg.com/news/articles/2018-01-27/songwriters-score-victory-over-streaming-services-with-pay-hikeThe Copyright Royalty Board ruled that songwriters will get at least a 15.1 percent share of streaming revenues over the next five years, from a previous 10.5 percent. That’s the largest rate increase in CRB history, according to a statement from the National Music Publishers’ Association.
The decision is a major victory for songwriters, who have long complained they are insufficiently uncompensated by on-demand music services like Spotify and YouTube. Streaming services account for the largest share of music industry sales in the U.S., while global streaming sales jumped 60 percent in 2016, according to the IFPI.
Well you should expect to see prices go up and I assume a rise in piracy too as some will be priced out by the new fee structure.
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