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MarketingVOX: Internet radio stations, almost on the verge of extinction, have now been given a second chance to avert major royalty hikes, reports Listening Post.
SoundExchange, which collects royalty payments on behalf of the music industry, has opted not to begin enforcing the previously announced new rates from webcasters.
The new royalty rates should have gone into effect Sunday the 15th; collection would have begun today. Several online broadcasters, including the widely popular Pandora, said they would be forced to shut down, since they could not afford the new rates.
Congress is also still considering legislation to create a payment model based on revenue percentage.
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