Phonorecords V is the latest installment in a five-yearly cycle in which the Board sets the statutory mechanical rate under Section 115 of the US Copyright Act – the royalty owed each time a song is reproduced and distributed, from a vinyl pressing to a download. The settlement was filed on June 29 by the three major record companies, indie labels, and the industry’s main publisher and songwriter bodies.
Source: CRB proposes extending physical and download mechanical rates through 2032