RIAA aims to cut songwriter royalties
February 5th 2008
Hollywood Reporter brings us news that the RIAA wants to lower the cut songwriters get each time a song they've written is legally download.
According to papers filed by the RIAA at the Copyright Royalty Board, the labels want the board to reduce the rate to 8 percent of wholesale revenue. The current rate is about 9 cents per song, which is usually split 50-50 between publisher and songwriter, but it often is lowered in negotiations with the record companies.
Moreover, Apple and other online distributors are siding with music labels. Online radio is asking that the rate be reduced to 4 percent.
Editor's note: The RIAA's claiming poverty, which given a little time may become true. The vast majority of internet broadcasters are already impoverished.
What's Apple's stake one way or the other?
