President Obama Signs Webcaster Settlement Act Extension

President Obama Signs Webcaster Settlement Act Extension

SoundExchange is pleased that the request for an extension of the Webcaster Settlement Act of 2008 was granted and signed by the President Obama yesterday. H.R. 2344 provides that webcasters will have thirty days after enactment to negotiate alternative royalty rates with sound recording copyright owners to the rates set by the Copyright Royalty Board in 2007.

John Simson, Executive Director of SoundExchange said, “We are encouraged by this additional time to negotiate rates that are both fair to our members and foster growth among digital music services of all kinds.” Under the original Webcaster Settlement Act, which expired on February 15, 2009, SoundExchange reached agreements with NPR/CPB stations, the National Association of Broadcasters for their simulcasting activity and small commercial webcasters.