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The music streaming industry is changing, for good?

The music streaming industry is changing, for good?

The National Music Publishers Association (NMPA) has stated that music publishers, songwriters, and musicians have reached an agreement with streaming services regarding US mechanical streaming prices for 2023–2027. In order to avoid a potentially heated debate, the NMPA, Nashville Songwriters Association International (NSAI), and Digital Media Association (DiMA) reached an agreement on a 15.35 percent rate.

That represents a marginal increase over the rate of 15.1% for the period of 2018 to 2022. Additionally, the NMPA earlier stated that it was aiming for 20 percent, so it is less than anticipated. To make up for the shortfall, the accord will allegedly also update how “bundle” pricing offered to students and families are handled and raise so-called Total Content Costs. According to the press release, “This Agreement… assures that all Parties will profit from the growth of the industry and will be driven to collaborate to maximise that growth.” David Israelite, CEO of NMPA, remarked, “Instead of going to trial and prolonging years of struggle, we instead move forward in collaboration with the highest rates ever, guaranteed.”

The previous legal conflict between the parties lasted three years. Spotify, Amazon Music, YouTube, and Pandora contested the decision, claiming it would be unworkable for their business models, and the 15.1 percent rate for the 2018–2022 term was ultimately decided. Earlier this year, publishers and composers won out because the Copyright Royalty Board upheld the 15.1 percent rate.

The music streaming industry is changing, for good?

The music streaming industry is changing, for good?

The National Music Publishers Association (NMPA) has stated that music publishers, songwriters, and musicians have reached an agreement with streaming services regarding US mechanical streaming prices for 2023–2027. In order to avoid a potentially heated debate, the NMPA, Nashville Songwriters Association International (NSAI), and Digital Media Association (DiMA) reached an agreement on a 15.35 percent rate.

That represents a marginal increase over the rate of 15.1% for the period of 2018 to 2022. Additionally, the NMPA earlier stated that it was aiming for 20 percent, so it is less than anticipated. To make up for the shortfall, the accord will allegedly also update how “bundle” pricing offered to students and families are handled and raise so-called Total Content Costs. According to the press release, “This Agreement… assures that all Parties will profit from the growth of the industry and will be driven to collaborate to maximise that growth.” David Israelite, CEO of NMPA, remarked, “Instead of going to trial and prolonging years of struggle, we instead move forward in collaboration with the highest rates ever, guaranteed.”

The previous legal conflict between the parties lasted three years. Spotify, Amazon Music, YouTube, and Pandora contested the decision, claiming it would be unworkable for their business models, and the 15.1 percent rate for the 2018–2022 term was ultimately decided. Earlier this year, publishers and composers won out because the Copyright Royalty Board upheld the 15.1 percent rate.