musicmusicmusic inc. (Neuer Markt: MU5), one of the world’s premier Music Content Providers, today announced their contract renewal with the RIAA (Recording Industry Association of America).
The newly revised contract boasts some exciting revisions, including a new method of calculating licensing fees. With the new license basing fees on a per-performance basis, musicmusicmusic will no longer pay royalties based on overhead of the division.
The revised method of determining license fees owing is calculated specifically on the actual performances of sound recordings and revenue. The previous contract specified license fees based on revenue or overhead and did not consider actual music usage. musicmusicmusic’s new licensing period has been retroactively extended to March 2001.
In addition to the new RIAA licensing structure, musicmusicmusic inc. has reduced their music streams by cutting off partners with no aspirations to bring in advertising revenue, which has further reduced their licensing fees.
Wolfgang Spegg states: ‘We were the first licensee of the RIAA in 1999 – what now seems an eon ago – and we will continue to work with them and the record industry to not only deliver wonderful entertainment to consumers but to also ensure that copyright owners and artists get fairly compensated for the use of their creative material.”
Musicmusicmusic inc. reported 2,141,268 song deliveries throughout the United States through July 2001, and a total of 2,621,260 worldwide.