Copyright Royalty Board Raises Payout Rate From Music Subscription Services by Nearly 44%

UPDATE January 29, 2018 Official Copyright Royalty Board Announcement
From Billboard:

Songwriters and music publishers will get a higher payout from on-demand subscription services like Spotify and Apple Music for the next five-year period (2018-2022), according to the National Music Publishers’ Association (NMPA). All the details for other rates from the Copyright Royalty Board (CRB) [part of the Library of Congress/U.S. Copyright Office], like the per song mechanical on CDs and downloads, have not yet been disclosed.
According to the NMPA announcement, it looks like at least two tiers of the three-tier formula used to determining music publishing royalties are still in effect. The NMPA revealed that rates will increase from 10.5 percent to 15.1 percent of revenue during the five-year term — that’s a 43.81 percent increase over the term, although the NMPA didn’t specify what increased rates would come into effect at what intervals.
That 15.1 percent of revenue will be split between the mechanical and performance royalties to publishers and songwriters.

Read the Complete Article
See Also: Full Text of National Music Publishers’ Association (NMPA) Statement re: Payment Increase

Filed under: Companies (Publishers/Vendors), Libraries, News, Publishing