The Copyright Royalty Board approved a new settlement for streaming royalties owed to songwriters for the period of 2023-2027. This ruling sets the rates for Subpart C and D of the five year period known as Phonorecords IV (or “Phono IV” for short), and it represents a compromise between the music industry and the streaming services, creating certainty around the royalties owed to songwriters for U.S. mechanicals.
Source: Songwriters’ New Streaming Royalties Approved Before the New Year