The Copyright Royalty Board approved a settlement struck by the NMPA, NSAI, and DiMA for streaming royalties owed to songwriters and publishers for the period of 2023-2027.
Arriving just before New Years’ Eve, on Friday , the Copyright Royalty Board judges issued their ruling on streaming royalty rates for songwriters for the period of January 2023 to December 2027,proposed by the National Music Publishers’ Association , Digital Media Association , and Nashville Songwriters’ Association International in late August.
This means that the resultant TCC pool is measured against the total service revenue. Whichever is larger is designated the “all-in” pool, including both performance and mechanical royalties. After this is established, performance royalties are subtracted out, leaving behind solely the mechanical royalties.
This final ruling, reached two days before its rates are set to take effect, is a striking contrast from the. Though that five year period is nearly over, its rates are still not finalized. In 2018, the music industry initially won the increase of the headline rate from 11.4% to 15.1% over the five year period, but the following year, Spotify, Amazon, Google and Pandora appealed, hoping to secure a lesser rate.
The ruling makes note of concerns provided by the 20 total commenters who weighed in on the settlement during the period, including that to some independent songwriters “the proposed rates might seem inadequate” and that several commenters prefer “alternative methods for inserting inflation adjustments.” “However,” the board states in the ruling, “the settlement is what is before the judges for consideration, not alternative rates or proposals for alternative procedures.
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