SCL-Supported Coalition Reaches Agreement on Increased Mechanical Royalty Rate
The Society of Composers and Lyricists in association with several independent music creators organizations have reached an agreement with members of the Recording Industry Association of America, the National Music Publishers Association, and the Nashville Songwriters Association International on a motion that would increase the mechanical royalty rate for 2023 through 2027 from $0.091 to $0.12 per track, a 32% increase, and includes a future cost of living adjustment.
This settlement comes just over a month after the Copyright Royalty Board decided to unfreeze the current rates and just before discussions will take place regarding the streaming royalty rates.
See more reflections on the agreement via CIAM or in the joint statement from the SCL, Songwriters Guild of America, and Music Creators North America:MCNA-5.04.22-Press-Release-re-Phonorecords-IV
Read the full motion below:FederalRegisterMarch302022