The Copyright Royalty Board issued its final determination for Phonorecords III, setting a countdown to to rectify now-incorrect payments for the last five years.
The Copyright Royalty Board issued its final determination on Thursday for songwriters’ and publishers’ U.S. streaming royalty rates during the Phonorecords III period of 2018 to 2022, reaffirmingThis new filing triggers the start of a complicated reconciliation process to account for the past five years of royalties under the new rates.
Proceedings to decide how to pay songwriters and publishers for U.S. mechanicals during 2018-2022 began over five years ago. In 2018, a CRB determination set the headline rate moving upwards from 10.5% of a streamer’s revenue in 2018 to 15.1% in 2022 and increased the subscriber count calculations for discounted family and student plans to 1.5 times and 0.5 times, respectively.
The 2018 determination also removed the publishing rate ceiling mechanism that prevents the publishers from automatically benefiting with higher payments when their label counterparts are able to negotiate higher rates for their master recordings. Many of the details from the previous determination for Phono III were especially favorable to the music business, so streaming services took issue with it, especially its removal of the rate ceiling.
Hoping to regain some of the more streamer-friendly stipulations in Phono II, Spotify, Pandora, Google and Amazon launched an appeal in early 2019 that was successful and resulted in a “remand” process that dragged on until now. Apple did not participate in the appeal.
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