According to a joint statement from the NAB, ASCAP and BMI, "the agreement resolves NAB's concerns with the potential introduction of new evidence into the rate-setting process while preserving ASCAP and BMI's ability to seek meaningful compensation from the growing digital marketplace. Our three organizations have enjoyed a long, unique and successful relationship, and as a result, we were able to work together to find a path forward on this important legislation that is fair to all parties."
Billboard reports while the main thrust of the legislation is to create a blanket mechanical license and an agency to administer it, which hopefully would benefit music publishers, songwriters and digital services, other ingredients in the proposed legislation would adjust how rate court judges are chosen and the standards by which rates are set.
While the digital streaming services didn't object to that repeal and were willing to allow master recording performance rates to be considered as one of the factors in determining rates for music publishing licensing, the NAB had a problem with it. Consequently, the repeal is now limited and will not affect terrestrial radio and simulcasts, sources say.
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