Liquid Compass Announces Royalty Reporting Tool
Sep 26, 2007 10:44 AM
Denver - Sep 25, 2007 - Liquid Compass has developed RIAA Reporter, a royalty reporting tool that automates the new per performance RIAA royalty reporting requirements that go into effect in 2008.
As a result of the new royalty fee arrangement announced earlier this year, streaming radio stations will no longer be allowed to report royalty fees by �aggregate tuning hour,� which was based on the total hours of programming that the stations transmitted during a month to all listeners. Instead, stations will be required to report on a per performance basis -- or the total number of people listening each time a performance is played. Royalty fees are paid by streaming radio stations to SoundExchange, the performance rights organization designated by the U.S. Copyright Office to collect and distribute digital performance royalties to artists and copyright owners.
RIAA Reporter removes the burden for stations by generating a monthly and quarterly report in spreadsheet format that does all the calculations, showing what was played, how often, and the total number of listeners. Clients need only to logon to the Liquid Compass Client Control Center and select from pre-populated dropdown information such as call letters and date range. The program will automatically calculate the stations fee and provide it in a form acceptable to SoundExhange.