Recording Industry Can’t Get Enough
The recording industry's lone bright spot is digital revenues that continue to build. Both the industry and the artists it supposedly represent see shrinking revenues from CD sales. So who does the industry go after to prop up revenues. The artists.
The industry has petitioned the U.S. Copyright Royalty Judges to lower the rates paid to publishers and songwriters for the use of lyrics and songs in digital distribution like paid downloads and ring tones.
RIAA is quoted by The Hollywood Reporter, "While record companies and music publishers were able to agree on royalty rates during that 25-year period, the assumptions on which those decisions were based have changed beyond recognition. … "Mechanical royalties currently are out of whack with historical and international rates," said RIAA General Counsel Steven Marks. "We hope the judges will restore the proper balance by reducing the rate and moving to a more flexible percentage rate structure so that record companies can continue to create the sound recordings that drive revenues for music publishers."
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