Updating our news item regarding SiriusXM Radio seeking direct licenses: Thursday morning’s Billboard.biz published this publicly available article authored by Ed Christman.
Billboard publishes a quote that points out that when the current statutory royalty being paid by SiriusXM to SoundExchange was set by the Copyright Royalty Board (“CRB”) in 2007, the panel said “an appropriate rate was 13%” but financial hardships of the then competing satellite radio companies Sirius and XM were taken into account. The current rates expire at the end of 2012. SoundExchange is currently engaged in proceedings and in a separate statement points out that SiriusXM is now merged and the surviving company, SiriusXM, has nearly doubled their subscriber base, eliminated cost redundancies, and is reporting to their investors record profits.
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Tags: Billboard, Direct License, Ed Christman, Performance Royalty, Sirius/XM, SoundExchange, Statutory Royalty
