December 17, 2012

News: Sirius XM Royalty Rates Payments Rise By 37.5%

The Copyright Royalty Board (CRB) has set new statutory royalty rates for satellite radio that will see the percentage of gross revenue paid to artists and labels increase gradually from the current 8% to 11% by 2017.  SoundExchange, which collects the royalties had wanted Sirius XM to pay up to 20% by 2017.

The Judges determined that the appropriate Section 114(f)(1) rates for Preexisting Satellite Digital Audio Radio Services for 2013-2017 are 9% of Gross Revenues for 2013, 9.5% for 2014, 10.0% for 2015, 10.5% for 2016 and 11.0% for 2017.

Sirius XM has shown increasing subscriber and financial strength in recent months, and is using their new found clout to try to cut more direct deals with music rights holders for lower rates

The CRB also set new statutory rates for cable TV music services like Music Choice. They are currently at 8% of Gross Revenues will rise to  8.5% for 2014 through 2017.

Props to All Access

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