SiriusXM Settles Old Music Royalty Dispute For $210 Million

Posted: Jun 27 2015, 7:42am CDT | by , in Latest Business News


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SiriusXM Settles Old Music Royalty Dispute for $210 Million
  • SiriusXM Decides upon Royalty Issues for Previous Records

SiriusXM has decided upon certain royalty issues having to do with previous records.

Since the year 2013, the music business has been witness to various copyright hitches that are focused on a single issue: should the singers of previous records get royalties when their songs are played on digital radio.

The issue is a thorn in the side of lawyers and the case for copyright infringement which gets rather tricky when it comes to information and artistic services. But now a solution seems to have been reached.

SiriusXM, a satellite radio amenity, has declared after a court ruling that it is willing to cough up $210 million and pay the whopping amount to record firms whose songs it used in its services after the early 70s, according to NYTimes.

This is a milestone in musical business history. Finally, some of the elderly musical artists and singers-songwriters, such as the Rolling Stones, will be getting their fair share of money, and that too in the millions.

They had been deprived of this very basic right but now the floodgates have literally been opened far and wide for them. Internet and satellite radio organizations will need to be careful from now onwards since they have been slapped with quite a few IOUs.

After Apple Incorporated took a hint or two from Taylor Swift and backtracked on its obstinate behavior as regards royalties, this is the second such victory for musical artists and they are mighty glad about it. It is a leap forward for all musicians and musicos.

Now they can rest assured that justice reigns supreme in the big bad world of cutthroat MNCs and the vicious, fat, baldheaded CEOs who rule them with an iron fist. What that means is that such old geezers as are left among The Rolling Stones, The Beatles and other musical groups have a lot to gain from this change in legislative policy. They can now enjoy their last days on earth in relative peace and luxury instead of as starving artists.

Music is music. It has a lot of appeal for the younger as well as older generations whether it was churned out 30 years ago or 3 years ago. Some things are simply timeless and music happens to be one of them.

The ins and outs of the legislation and litigation that took place are too complex to go into here. Suffice it to say that all is well that ends well. Now thanks to the new statutes that have been decided upon with regard to copyright issues, the unmanageable has been made manageable. And it’s about time too!

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<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
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