September 24, 2008

Music Groups Reach Deal

vynrec.jpg Five trade organizations that represent record labels, music publishers, songwriters and online music companies said Tuesday they had reached an agreement on how to calculate certain royalties that had been a source of contention between the music industry and online services.

The trade organizations involved in the agreement are the Recording Industry Association of America, the National Music Publishers Association, the Songwriters Guild of America, the Nashville Songwriters Association International and the Digital Media Association.

[via The Wall Street Journal]

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