Further to the recent article in the Trichrodist, a second report on songwriter’s effort increase the fairness of mechanical copyright roaylties has appeared on the Complete Music Update website.
In the article, author Chris Cooke writes:
In a letter to the CRB earlier this month, those other organizations – led by Music Creators Of North America – pointed out that the 9.1 cents rate was set in 2006. Since then inflation has basically decreased the value of the rate by approximately one third. The current CRB review will set the rate from 2023 to 2027. “By 2027, 9.1 cents may be worth less than half of what it was in 2006”, MCNA stated in its correspondence.”
MCNA, the Songwriters Guild of America, the Society of Composers & Lyricists, and all of their affiliated international music creator groups (representing over a half million songwriters and composers in total) are proud to be leading this effort to ensure greater transparency and fairness in the setting of royalty rates by the US Copyright Royalty Tribunal.
Stay tuned for more updates and read the full article here.
