The Webcaster Settlement Act is on its way to the president for his signature.
The Senate has passed the measure that the House approved on June 9. The act suspends higher royalties set by the Copyright Royalty Board while negotiations between Webcasters and record labels continue.
Some Webcasters have come to agreements with SoundExchange, including radio stations that stream their signal; that deal was negotiated by the National Association of Broadcasters. But Web-only broadcasters, small commercial Webcasters and religious broadcasters are still waiting on negotiations. The legislation just passed gives SoundExchange and Webcasters an additional 30 days from the date the act becomes law to agree on new a royalty rate. .