SAN FRANCISCO (AP) - A federal copyright board has raised the music streaming royalties for songwriters and music publishers by more than 40 percent to narrow the financial divide separating them from recording labels.
The decision announced earlier this weekend by the National Music Publishers' Association resolves a dispute pitting songwriters against steadily growing music streaming services sold by Spotify, Apple, Google, Amazon, and Pandora.
The Copyright Royalty Board's decision will require those services to pay 15.1 percent of their revenue to the songwriters and publishers, up from 10.5 percent.
The music publishers association hailed the ruling, even though the trade group estimates recording labels will still be receiving $3.82 for every $1 paid to songwriters and publishers.
None of the companies affected by the new music streaming royalties responded to requests for comment.