Song rates will stay the same, says CRB
p2pnet news view Products | Music:- It seems Steve Jobs won’t have to close iTunes down after all.
The rate digital retailers must pay songwriters and music publishers will stay the same, says the Copyright Royalty Board (CRB).
Rejecting publishers’ demands for a 66% rate hike, the three-judge panel, “said the record companies will continue to pay 9.1 cents a song, while the National Music Publishers Association had sought an increase to 15 cents a song,” says MarketWatch.
It also established for the first time, “a rate of 24 cents for each ringtone subject to the mechanical license, and gave publishers the right to seek a 1.5% late fee, calculated monthly,” says DigitalMediaWire.
Is iTunes about to shut down? – we asked (rather hopefully, it has to be admitted) in yesterday’s p2pnet post.
But No. Steveroo will be able to continue ripping off his customers.
It boils down like this: You-Know-Who walks off laughing with the lion’s share of 61 cents, Apple gets 29 cents and the song-writers rake in an eye-popping nine cents.
What does Apple call it’s DRM thingy? FairPlay, or something?
Meanwhile, anyone who seriously thought Jobs ever had, or ever will have, any intention of shutting iTunes down is dwelling in Never Never Land.
But wait! Isnt that where most of them live anyway?
MarketWatch – Copyright board leaves song royalty payments unchanged, October 2, 2008
DigitalMediaWire – Copyright Royalty Board Rejects Rate Hike for Songwriters, October 2, 2008
p2pnet - Is iTunes about to shut down?, October 1, 2008
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