Awkward, or just downright awful – that’s a lot of money whatever way you cut and dry it. This is all about how SiriusXM calculates the royalties it pays to SoundExchange, with the latter accusing the radio firm of "ascribing excessive and unjustified value to the webcasting component of its bundled packages and then removing that value from the satellite radio royalty pool" – among other "improper deductions.” In short, they contest that some interesting accounting is going on, therefore reducing what is payable to performers. SiriusXM claims that this is simply a case of "ordinary course disputes – an audit matter and an allocation of revenue from bundled products" and maintains that it has been sticking to the regulations laid down by the US Copyright Royalty Board (CRB) over how to calculate and pay out royalties. Let’s hope it gets sorted. Read the full legal filing here if you like.
US royalty collection society SoundExchange sues radio station SiriusXM over alleged $150M in unpaid royalties owed to artists (and rightsholders).
22, Aug, 2023