Federal judge sets formula for Internet music royalties

A federal court on Wednesday established a formula for determining the Internet royalties owed to thousands of music composers, writers and publishers by three major online services — Yahoo Inc., AOL and RealNetworks Inc.

Under the formula endorsed by U.S. District Judge William Conner's, AOL owed 2006 fees of $5.95 million and Yahoo owed $6.76 million.

... "This historic decision, for the first time, provides a clear framework for how the online use of musical works should be appropriately valued," said John LoFrumento, ASCAP's chief executive.

[via the Associated Press]

emily | 10:42 AM | Copyright Protection |
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