RMLC, BMI Agree To Interim Rate
BMI and the Radio Music License Committee have agreed to set an interim rate of 1.7 percent of radio revenue, as both parties are still in negotiations for a final rate.
BMI began a proceeding in Federal Rate Court on Jan. 3. According to a statement from BMI, the RMLC sought a lower interim rate, “based on incomplete and incorrect information regarding BMI’s share of radio performances.”
After a preliminary hearing on Friday, Feb. 17, the RMLC agreed that the 7,000 stations the organization represents would pay the interim fee proposed by BMI. The payments will cover fees starting Jan. 1, 2017 and until a final fee is set.
Mike Steinberg, Senior Vice President of Licensing for BMI, stated, “We are pleased that the RMLC recognized the value that BMI music brings to the radio industry across all of its platforms and agreed to BMI’s proposed interim rate. Protecting the income of BMI’s songwriters, composers and music publishers is of paramount importance, and we will continue to pursue a new final rate that reflects current and future marketplace data and is in the best interests of our affiliates.”
Latest posts by Jessica Nicholson (see all)
- CMA Honors Robert Deaton With Chairman’s Award - December 4, 2020
- Nashville Symphony, Nashville Musicians Association Reach Agreement - December 4, 2020
- Zach Williams’ “Chain Breaker” Is Most-Added On ‘MusicRow’ CountryBreakout Radio Chart - December 4, 2020
Leave a Reply
Want to join the discussion?Feel free to contribute!