WASHINGTON, DC Late yesterday the Senate passed the Webcaster Settlement Act of 2008, a bill that grants Webcasters, including radio stations that stream music over the Internet, the ability to negotiate new music streaming rates with SoundExchange, a group created to collect and distribute royalty payments. The negotiated rate, which must be settled by February 15, 2009, would replace the exorbitantly high rates set by the Copyright Royalty Board and be active for ten years.
Upon Senate passage of the bill, NAB Executive Vice President Dennis Wharton issued the following statement.
"With this legislation now headed to the White House for President Bush's signature, NAB looks forward to sitting down quickly with SoundExchange to craft equitable streaming rates that enhance the online music experience and expose more artists to our listeners."
The National Association of Broadcasters is a trade association that advocates on behalf of more than 8,300 free, local radio and television stations and also broadcast networks before Congress, the Federal Communications Commission and the Courts. Information about NAB can be found at www.nab.org.