'The National Association of Broadcasters claims musicians should just be happy with the 'promotion' radio provides. But artists can’t pay the rent with 'promotion,'' —MichaelHubbe (guest op-ed)
There’s a chance, however, that the juxtaposition of two hearings yesterday—on the actual Groundhog Day, no less—will help us skip to the happy end of the movie as music plays and the credits roll.
They didn’t ask for more money, like the broadcasters did. They simply asked for at least some payment, since they now receive none when broadcast radio stations air their music. No station is going to go bankrupt over these royalties. In the third quarter of 2021, alone, iHeart’s net revenues were $928 million,t. Audacy’s revenues were $329.4 million. Cumulus’s revenues were $238 million.
I understand the NAB’s job is to minimize costs so their members pocket more of the $10 billion the radio broadcast industry earns each year. But that money comes out of the pockets of hard-working recording artists, who represent the very foundation of what these broadcasters sell. And while the NAB has the right to represent its members’ interests, it cannot do so credibly when pushing for two hypocritical positions in two different hearings on the very same day in Congress.
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