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Sirius, XM and SoundExchange Reach Music Licensing Pact

Sirius, XM and SoundExchange Reach Music Licensing Pact

Both satellite digital radio companies XM Satellite Radio and Sirius have reached a performance royalty agreement with SoundExchange, which collects and distributes royalties to record owners, artists and to AFTRA and AFM on behalf of background musicians and vocalists from digital audio transmissions.
The agreement covers the period through Dec. 31, 2006. Terms of the agreement are confidential.
“The royalties paid under this agreement will be an important new revenue stream for the 3,000 labels and thousands of artists we represent, said John Simson, executive director, SoundExchange. “The agreement once again compensates artists and copyright owners for public performances of their creative works.”
“We are delighted to have reached an agreement that compensates creators and allows XM and SIRIUS to grow while avoiding a costly arbitration. We expect this agreement to be the start of a mutually beneficial relationship with these exciting new services for many years to come,” said RIAA Senior Vice President, Business and Legal Affairs Steven Marks.
AFTRA’s Director of Sound Recordings, Ann Chaitovitz said the settlement “shows that the music industry is changing, not dying.”
SoundExchange represents roughly 400 record companies and their 3,000 record labels and thousands of recording artists. Its members include the five major label groups, BMG, EMI, SONY, UMG and WMG, Rounder Records, Alligator Records, Mountain Apple, Naxos, Koch and many independent labels.