January 27, 2004
Music Royalties Rise, Even as CD Sales Fall
From the New York Times article, “ Music Royalties Rise, Even as CD Sales Fall ”:
Despite the travails of the music industry, with CD sales still slumping and record executives still suing suspected Internet pirates, one part of the business is thriving. Royalties paid to songwriters and music publishers from radio and television broadcasts of their songs, and from live performances, are at record highs.
“When it comes to the downloading issue, which is killing record labels and music publishers, we’re only indirectly affected by it,” said Bill Velez, the head of Sesac, one of the leading performing rights organizations in the United States. “We’re able to weather economic storms better than other segments of the entertainment industry.”In 2003, America’s three recognized performing rights organizations - Sesac, B.M.I. and Ascap - reported record revenues, which, in turn, have generated bigger royalties distributions to songwriters and music publishers.
[ Full Story @ New York Times ]
Source: The New York Times © 2004 New York Times
Posted by akvalley at January 27, 2004 08:13 AM | TrackBack