Reservoir Commends Landmark Mechanical Streaming Royalty Rates Settlement

The National Music Publishers’ Association (NMPA), Nashville Songwriters Association International (NSAI), and Digital Media Association (DiMA) Have Reached a Settlement for Mechanical Streaming Royalty Rates to Increase to 15.35% over the Next Five Years

NEW YORK, Sept. 01, 2022 (GLOBE NEWSWIRE) — Reservoir Media, Inc. (NASDAQ: RSVR) (“Reservoir” or the “Company”), an award-winning independent music publisher, commends the recent agreement reached between the National Music Publishers’ Association (NMPA), Nashville Songwriters Association International (NSAI), and Digital Media Association (DiMA) to increase mechanical streaming royalty rates to 15.35% over the next five years.

This landmark settlement represents a significant step forward for songwriters and music publishers, ensuring that they are fairly compensated for their creative works in the digital streaming age. The agreement reflects the growing importance of streaming platforms in the music industry and the need to create a more equitable royalty structure that benefits all stakeholders.

Reservoir Media, Inc. is pleased to see this positive development and looks forward to continued collaboration with industry partners to support the growth and sustainability of the music ecosystem.

How will this Settlement Affect Me?

As a songwriter or music publisher, this settlement means that you will receive a higher percentage of royalties from mechanical streaming services over the next five years. This increase in royalty rates reflects the value of your creative work and ensures that you are fairly compensated for your contributions to the music industry.

How will this Settlement Affect the World?

This settlement has the potential to have a ripple effect on the music industry worldwide. By establishing a higher standard for mechanical streaming royalty rates, it sets a precedent for fair compensation for songwriters and music publishers globally. This could lead to more equitable agreements between creators and streaming platforms, ultimately benefiting the entire music ecosystem.

Conclusion

The landmark settlement reached by the NMPA, NSAI, and DiMA to increase mechanical streaming royalty rates to 15.35% over the next five years is a significant win for songwriters, music publishers, and the music industry as a whole. This agreement reflects the changing landscape of the music business and the need to ensure that creators are fairly compensated for their work. As the industry continues to evolve, it is crucial for stakeholders to work together to create a more equitable and sustainable future for music creators worldwide.