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.”
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Jessica Nicholson serves as the Managing Editor for MusicRow magazine. Her previous music journalism experience includes work with Country Weekly magazine and Contemporary Christian Music (CCM) magazine. She holds a BBA degree in Music Business and Marketing from Belmont University. She welcomes your feedback at jnicholson@musicrow.com.View Author Profile
