FOR IMMEDIATE RELEASE
CONTACT: media@dima.org
DiMA Statement on Copyright Royalty Board Decision Setting Certain Streaming Royalty Rates for 2018-2022
Streaming services will work with the Mechanical Licensing Collective (MLC) on implementation as escalating revenue for the largest label-publishing companies continues
WASHINGTON, D.C. (July 1, 2022) — Digital Media Association (DiMA) President and CEO Garrett Levin released the following statement on today’s decision of the Copyright Royalty Board (CRB) setting royalty rates that digital streaming services must pay to music publishers for the rights to reproduce and distribute musical works (so-called “mechanical” licenses) from 2018-2022.
“The streaming services thank the Judges for their efforts.
“Today’s decision reflects a significant increase in the royalties that will be paid to publishers. The work to give effect to these new rates will soon begin in earnest. The streaming services are committed to working with the MLC and music publishing companies to facilitate the accurate distribution of royalties.
“This proceeding is also a reminder that ratesettings do not – and cannot – take place in a vacuum. Today’s decision comes as the three major label groups – which operate the world’s three largest music publishers – continue to earn the lion’s share of the industry profits while reporting consistent double-digit revenue growth as a result of streaming.
“Looking ahead, streaming services believe it’s time for all stakeholders—labels, publishers, writers, artists and the services—to engage in comprehensive discussions to figure out the right royalty-sharing balance going forward.”
The new ruling follows an August 2020 ruling by the D.C. Circuit Court of Appeals, vacating on a number of grounds the previous CRB decision to set these rates.
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About The Digital Media Association (DiMA)
DiMA is the leading organization advocating for the digital music innovations that have created unparalleled consumer choice and revolutionized the way music fans and artists connect. Representing the world’s leading music streaming companies – Amazon, Apple Music, Pandora, Spotify, YouTube – DiMA’s mission is to promote and protect the ability of music fans to engage with creative content whenever and wherever they want and for artists to more easily reach old fans and make new ones. www.DiMA.org
