(CMJ) SoundExchange has signed agreements with at least 24 small webcasters, allowing them to continue through 2010 under the Small Webcaster Settlement Act, which sets their royalty fees at 10 or 12 percent of their revenue.10 percent of revenue if they make under 250,000 dollars and 12 percent of revenue if they make between 250,000 and 1.25 million dollars. The agreement is retroactive to January 1, 2006 and will continue through December 31, 2010 when the Copyright Royalty Board (CRB) will start a new negotiation.
While 24 webcasters have signed the deal, according to a statement released by SoundExchange yesterday, criticism still exists. Wired points out that the the agreement only covers artists and labels who are SoundExchange members. - a lot more on this story
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