The majors and the National Music Publishers’ Association (NMPA), along with the Nashville Songwriters Association International (NSAI), the Music Artists Coalition, and the American Association of Independent Music (A2IM), just recently informed the Copyright Royalty Board of their settlement. And according to their letter, the agreement is straightforward enough: The current Phono IV rates, also extending to ringtones, “should not be amended except for continuing inflation adjustments