The New York Post reports that rumours of an in-built iPhone 5 music streaming service were on the money. However, the service was scrapped at the last minute with talks between Apple and major publisher Sony/ATV breaking down. Sony/ATV are believed to have wanted higher per stream royalty rates.
According to the same article, Sony/ATV is 'about to set the musicstreaming sector on its ear, as it will pull out of the two main copyright associations, ASCAP and BMI, in January.' The purported pullout will pertain only to digital streaming rights.
MORE:
- Spotify is saving itself some royalty pennies by changing the way it pays out from streams on their mobile radio app.
- Hit songwriter and producer Timbaland has signed a worldwide publishing deal with ole. The deal encompasses upcoming projects, as well as Timbaland's catalog replete with seven US #1 songs.
- REO Speedwagon and Boz Scaggs join the growing numbers of artists suing Sony for underpayment of digital royalties.
- Matt Pincus, CEO of Songs Music Publishing, has joined the ASCAP Board of Directors.
Courtesy of Songtrust – One-stop royalty collection for songwriters, bands and producers.
