BMI described the settlement as a landmark moment, noting that it delivers the largest royalty rate increase the organization has ever achieved with the radio industry.
“Despite years of negotiations, SiriusXM is attempting to lower its payments to BMI songwriters, composers, and publishers, ignoring BMI’s preeminent market share, changes in the marketplace."
Borrell Associates projects that figure will climb considerably over the next four years as the industry undergoes what it describes as a "great reshuffling."