BMI and the Radio Music License Committee have reached a settlement to resolve three years of litigation over the licensing rates that will be paid by nearly 9000 radio stations to songwriters and publishers – a deal that BMI is calling “a historic rate increase.” According to court filings, the new deal will see rates paid by radio stations jump from 1.78 percent of revenue under the old agreement to 2.14 percent, then slowly increase to 2.20 percent by the end of the term.
Source: BMI Settles With Radio Stations to Resolve License Litigation: ‘Historic Rate Increase’