The NAB likes this proposed law as it retains the feature that over the air radio does not pay royalties to the performers.
SoundExchange likes the law because it is based on their model for music that is streamed, which means the musicians love it.
As a bonus, it clears up the legal ambiguity of music from 1972 and before, asserting retroactive Federal jurisdiction. There is really no such thing as intrastate music, so this is where the responsibility belongs.
Another bonus is that producers and engineers will now get a sliver of the royalty pie.
ASCAP supports the law without a clear reason beyond their members want it
BMI, which started as the radio industry’s failed attempt in the 1930/40s to crush ASCAP, is interestingly silent.
The new framework is reported to be market based rather than a “one size fits all” rate structure decided by a panel of threee administrative law judges within the Library of Congress.
So with three of the biggest radio businesses either gone or in bankruotcy, who is going to fund this new pile of money? I wonder if the Cumulus and Iheart / Clear Channel bankruptcy were the catalyst for this sudden resolution of a decade old fight…
SiriusXM opposes the bill although there is no press release yet.
On to the Senate and President Trump.