Finally. SoundExchange has struck a deal with the Digital Media Association, a group that represents Internet broadcasters, entailing that fees will be capped at $50,000 a year per web caster. Included in the deal, webcasters will be required to provide SoundExchange will full data on songs that are being broadcast.
However, don't go celebrating quite yet. The two groups have not yet agreed on royalties rates for individual songs played, which is half the battle. With the Copyright Royalty Board increasing the rate of royalties for Internet radio broadcasters, negotiations have taken place all summer long, with SoundExchange working to reach a middle ground. Earlier this week, it seemed as though there was still no end in sight, as some webcasters refused the previous deal attempt that was extended to them by SoundExchange, so today's agreement may be a good place to start for the continued negotiations for all parties involved.