Sony/ATV Releases Statement on Copyright Royalty Board Decision

According to the National Music Publisher's Association, a deal has been reached to raise rates paid to songwriters and music publishers from Apple Music, Spotify and similar services.

Following an announcement by the Copyright Royalty Board about new U.S. royalty rates for music publishers and songwriters for the next five years, Sony/ATV Music Publishing has issued the following statement from its Chairman and CEO Martin Bandier.

"As the leading music publisher, we believe that overall this is a very positive ruling by the CRB as it will deliver an unprecedented topline rate increase for songwriters and publishers over the next five years. While we are disappointed not to get the per-stream rate that we wanted, the planned rate increases go a long way to fairly compensate our songwriters for the essential contribution they make to streaming's success story."