PRS for Music, a royalty collecting group based in the UK, has released details about their newest Joint Online Licence (JOL), which has been published online at Prsformusic.com (pdf). The current JOL expires on June 30, and the new deal covers rates charged for download services and subscriptions.
For a download, the rate remains unchanged from the previous JOL at 8 percent of gross revenue. But streaming rates for services like Last.fm will be online later this month, and are of greater importance, given the rising popularity of music that is listenable for free. Spotify, Myspace, and probably Google are just some of the companies that will be affected by the forthcoming “music on demand” rates. Continue reading...
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