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MediaBuyerPlanner: The deadline for paying the new music royalty fees has been postponed by two months, to July 15, giving internet broadcasters a bit of breathing space and a 30-day chance to file a notice to appeal the Copyright Royalty Board's decision to increase royalties in federal court.
The royalty board announced a new fee structure in March after webcasters failed to reach an agreement with the owners of music copyrights on a new royalty system, writes Forbes. Many internet radio companies have said that the new royalty structure would force them out of business.
While SoundExchange, a group that collects and distributes digital music royalties on behalf of copyright holders, has said that the new fees are not onerous, John Blackledge, an industry analyst at JPMorgan, said in a report that the new royalties could "potentially shutter smaller Internet radio companies" and hurt the profitability of larger operators as well.
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