Deal On Webcasting Royalties

The recording indsurty and bug webcasters have made a deal on royalty rates for internet music streaming. “The two sides agreed Thursday on how much big webcasters like Yahoo!, America Online, Microsoft and RealNetworks must pay to broadcast songs over the Internet during 2003 and 2004. The new deal, if approved by the U.S. Copyright Office, will allow the two industries to avoid a lengthy arbitration process to set the royalty rates.”