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NewswireToday - /newswire/ -
Waldorf, MD, United States, 05/27/2007 - SoundExchange's offer is to weaken congressional support for the Internet Radio Equality Act and will only postpone this threat to small webcasters to 2010. ThereIsNoRadio isn't falling for it.
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ThereIsNoRadio says 'No thank you' to SoundExchange's offer of a dressed up pig.
Satellite radio pays the same royalty at a rate of about 7.5% of their revenues. SoundExchange has offered this royalty to small webcasters at 10% of the first $250,000 revenues and 12% gross revenue above that. This offer is only valid to webcasters who do not break listenership or revenue ceilings that have not been released by SoundExchange. They guarantee us zero royalty increases for 13 years from 1998-2010. While it might sound good to say 13 years, the reality is that 11 of those 13 years have already passed and royalties have already been paid to SoundExchange for them. ThereIsNoRadio is not interested in a 13 year guarantee that expires in 2 years.
In 2010, small webcasters will return to the Copyright Royalty Board to participate in the exact same arbitration process that threatens us today. The only way to fix the problem is through the passage of the Internet Radio Equality Act, which would force future CRB arbitrations to consider market impact of their decisions. Successful businesses do not stay alive by ensuring they remain under an artificial revenue ceiling. Successful businesses are businesses that are allowed to grow and thrive in a free market without worry that the next $100 they earn will increase operational costs enough bankrupt them. We support the big webcasters because one day we hope to join their ranks. Under the current decision of the CRB, we will be forced to shut down if the IREA is not passed. SoundExchange's offer will only postpone our shutdown until 2010 if we can manage to find ways to stunt the growth of this station until then.
This offer may make SoundExchange look good in the media, but the reality is that this offer is just a dressed up pig.
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