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Saturday, May 3, 2008 | 7:00am
Federal Judge Sets Formula for Internet Music Royalties
Judge’s ruling could yield as much as $100 million in payments
Wednesday, a federal court judge established a formula for determining Internet royalties owed to composers, writers and publishers by Yahoo Inc., AOL and RealNetworks Inc., the three major online services.
The guidelines could yield as much as $100 million in payments covering a seven-year period ending in 2009. According to U.S. District Judge William Conner’s formula, AOL owed 2006 fees of $5.95 million while Yahoo owed $6.76 million opposed to just the $632,879 in 2006 that AOL proposed and the $889,402 in Yahoo’s proposal.
ASCAP had sought $7.83 million from AOL and $7.38 million from Yahoo to cover the 2006 royalties, according to court documents but considers the decision a major victory. Wednesday’s ruling doesn’t affect the royalties owed to record companies.
FILED IN Business & Marketing, Music, Web 2.0
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Ah yes cats hopefully artists will get their just do from downloads… cha-ching!