The music royalty rates SiriusXM pays for copyrighted music will increase slightly in the New Year.
That’s based on a recent ruling from the Copyright Royalty Board.
Now, the satcaster pays eight percent of its gross revenue to SoundExchange, which distributes the money to record labels and musicians.
That amount will increase to 9% in 2013 and rise a half a percentage point every year until 2017.
The satcaster agreed to make an advance payment minimum of $100,000 per year, with royalties accruing during the year recoupable against the advance.