WMG becomes the second major to sign on to the new structure, which is still limited to the streamer's home territory.
In its third annual membership meeting, The Mechanical Licensing Collective reveals key metrics about its progress since launching in 2021.
Only 0.5% of the royalty pool will be impacted, however, reflecting the large number of tracks that receive few streams.
Digital has become the biggest source of income around the world, driving rights management organizations to new highs.
An "in-depth" study will analyze streaming data to evaluate the viability of different economic models for remunerating songwriters, composers and rights holders.
The company is planning changes to its royalty model for 2024 that will disqualify some tracks from payments and increase penalties for fraud.
The company sharply cut its expected retroactive royalty payments. Competitors are confident they won’t follow suit.
The performance rights organization said its new-model goal is to distribute 85% of the licensing revenue it collects to songwriters and publishers.
Deezer's new model doesn't address some of the fundamental issues with the economics of streaming, says former Sony Music exec Thomas Hesse.
In a new filing, the satellite-radio giant says SoundExchange’s “so-called audit” is “flawed" and claims SiriusXM has paid all of the royalties it owes.
