News

A2IM Monthly Digest– Nov/Dec 2023 – American Association of Independent Music

A2IM Monthly Digest– Nov/Dec 2023 – American Association of Independent Music


Important notice:  New mechanical rates for 2024 announced by CRB
Last year, the Copyright Royalty Board adopted new mechanical rates for physical products and downloads.  These rates were the result of a settlement between the major record companies and the NMPA – a settlement reached after the CRB rejected those parties’ initial settlement, which would have kept rates at the same level as the prior term.  A2IM strenuously opposed the new settlement; you can read our comments here:  https://app.crb.gov/document/download/26934

Under the new settlement, the CRB immediately increased the mechanical rates for 2023 to 12 cents per physical download and permanent download, or 2.31 cents per minute of playing time, whichever is larger – an increase of more than 30%.  In addition, for every subsequent year in the term, the rates are adjusted for inflation – as measured by the CPI-U and reported in November of each year.  The Federal Register notice announcing these rates can be found here:  https://www.govinfo.gov/content/pkg/FR-2022-12-16/pdf/2022-27237.pdf

Last week, the CRB announced the new rates for 2024, reflecting the adjustment for inflation.  These are effective as of January 1, 2024.  In 2024, the new mechanical rates will be 12.4 cents per copy or 2.39 cents per minute of playing time.  The official announcement can be found here:



<Source link

Follow Us On

Categories

Daily Newsletter

Get all the top stories from Blogs
to keep track.

Scroll to Top