Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.
+1 212 318 2000
Europe, Middle East, & Africa
+44 20 7330 7500
+65 6212 1000
For a while there, Sirius XM’s iPhone application left alternative radio services in the dust on the iTunes charts. Well, no more. Music discovery app from Pandora has just surpassed it.
The House Judiciary Committee today approved a performance rights bill that would require traditional radio stations to pay royalties to copyright holders for playing music over the air. This landmark piece of legislation strives to change practices that date back to the 1920s. In all the history of radio, stations have played music for free.
This morning, House Subcommittee on Courts, the Internet, and Intellectual Property passed the Performance Rights Act, which seeks to charge terrestrial radio stations additional royalties for playing songs. Clearly, this is a big win for the music industry. A note of caution, however: This same subcommittee has passed similar bills before. The prior bills have failed to pass Congress.
The battle between terrestrial radio stations and the music industry will heat up tomorrow, when the House Subcommittee on Courts, the Internet and Intellectual Property will go through mark-up of a bill that would require the radio stations to pony up more royalties to performers and record labels.
BusinessWeek writers Peter Burrows, Cliff Edwards, Olga Kharif, Aaron Ricadela, Douglas MacMillan, and Spencer Ante dig behind the headlines to analyze what’s really happening throughout the world of technology. One of the first mainstream media tech blogs, Tech Beat covers everything from tech bellwethers like Apple, Google, and Intel and emerging new leaders such as Facebook to new technologies, trends, and controversies.