— from the NMPA press release
Washington, D.C.— The National Music Publishers’ Association (NMPA), the Nashville Songwriters Association International (NSAI) and Sony Music Entertainment (SME) today filed a joint agreement with the Copyright Royalty Board (CRB) that resolves open issues among them concerning the ongoing rate proceedings for mechanical royalties payable under Section 115 of the Copyright Act for the period between 2018 and 2022.
Similar to NMPA’s previously announced settlement with record labels Warner Music Group and Universal Music Group, the agreement includes a roll-forward of rates in Subpart A of the 115 regulations, covering physical products, digital downloads, and ringtones. Under the terms of the settlement, SME will withdraw from Subparts B & C, which applies to on-demand streams. Additional terms were not disclosed.
In a joint statement commenting on the deal, NMPA, NSAI and Sony Music said, “The parties are pleased to have reached a mutually beneficial settlement in this matter. Sony Music and the music publishing community value their relationship, and as the music marketplace continues to evolve it is more important than ever that the music community stands united to demand fair market pay for songwriters and artists from all digital music services. We look forward to working together to pursue that shared objective.”