5th Jul 2022 15:28
Round Hill Music Royalty Fund Ltd - Guernsey-based investor in music copyright assets - Welcomes the decision of the US Copyright Royalty Board to disallow an appeal by various streaming services. The appeal was against the copyright royalty board decision to increase mechanical streaming royalty rates for songwriters and publishers. With the appeal disallowed, there will be an increase in statutory minimum rates for streaming paid in the US, beginning with an increased headline rate of 15% from January 1, 2022.
Chief Executive Josh Gruss says: "The CRB IV negotiations for the next five year period from 2023 to December 2027 have now commenced, with the writers/publishers asking for a mechanical streaming royalty rate of 20%, something that we hope will come to pass when the times comes."
Current stock price: USD1.00, down 0.5% in London on Tuesday
12-month change: down 6.5%
By Heather Rydings; [email protected]
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