Musicians Makes Money From Streamed Media
Believe it or not, musicians may actually start making money from streamed content distributed online.
An announcement was made today that online music services, record labels, music publishers, and songwriters have actually reached a mutual agreement in regards to royalties of content distributed online.
According to the agreement, online services (Napster, Rhapsody) offering limited downloads and streaming content must pay a mechanical royalty of 10.5 percent of revenue after other royalties are calculated. Services offering permanent media downloads (iTunes, Amazon MP3, Wal-Mart) will not be affected, as they already pay the royalty fee.
"This agreement provides a flexible structure to support innovative business models in the digital music marketplace that will benefit music fans, creators and online services," said Mitch Bainwol, Chairman, and CEO of the Recording Industry Association of America (RIAA).
The RIAA is one of five trade groups involved with the pending agreement. Others include the Songwriters Guild of America, the Nashville Songwriters Association International, the National Music Publishers’ Association, and the Digital Media Association.
The Copyright Royalty Judges will make a final ruling on October 2. If ruled in favor of the agreement, the new mechanical royalty would finally settle a financial dispute between the music industry and online music sites.
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Kick IRAA in the groin and simply share Ad revenue with artists. If YouTube can do it, why can't music streaming sites?
What might this mean for Pandora, and what's their outlook anyway?
I first heard about it about a month ago, reading that their closure was imminent due to exorbitant royalty fees. I didn't look into them as I didn't feel a need to get into something as it dies, but I have since heard many good things about them.
Just last night my wife told me about this great site her co-worker told her about, and how she already found new music she wants to buy. Yup, Pandora.
"...after other royalties are calculated" So, is this an *additional* fee, or a reduction of what they were previously paying?
Will Pandora live, or is the RIAA shooting yet another foot?
"Musicians Makes Money From Streamed Media"
Lol...musicians making money. Typos aside, the accuracy of a statement like that will always be questionable so long as "RIAA" is mentioned along with it.
What might this mean for Pandora, and what's their outlook anyway?
...after other royalties are calculated" So, is this an *additional* fee, or a reduction of what they were previously paying?Will Pandora live, or is the RIAA shooting yet another foot?
Yeah, that's what I'd like to know.
Please don't let the RIAA kill my favorite streaming service! I buy more CDs because of them!
I don't use streaming services and only pay for mp3 downloads, so this doesn't really concern me. But I read it anyway, and really like the last bit!
" If ruled in favor of the agreement, the new mechanical royalty would finally settle a financial dispute between the music industry and online music sites."
Ahh don't use html code in here! system'll eat it! keep forgetting that. Here's the rest of my post:
In my book that means, that online music sites are not part of the music industry? And if they're not, publishers aren't either are they? They don't produce any goods either after all, but simply sell em to the next layer of merchants... And if publishers aren't part of the music industry, what rights are their association entitled to in that industry?
RIAA....stfu then. Besides don't they have a single mom working two jobs with 14 year old to sue? Sounds like a legalized communism company to me. So back to the point RIAA....STFU.
The Silent Majority
Sounds like a legalized communism company to me.
What does that even mean?
"Musicians Makes Money From Streamed Media"
..more like..
"Record Labels Make Money From Streamed Media"
The major record labels takes almost all of the profit and only gives very small percentage to the musicians/songwriters. Yes, they also do a lot of work, but only around the works of the actual musicians/songwriters. It is the musicians/songwriters who should get the bigger part.
When will these musicians (under the major record labels) grow some spine and turn things around. But then again, a great deal of them are actual products of these labels, churning crap "music".