On Tuesday, September 30, 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 would be active for 10 years.

"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" said NAB Executive Vice President Dennis Wharton upon Senate passage of the bill.