SoundExchange is suing US satellite broadcaster SiriusXM, claiming it “systematically underpaid” royalties from 2007 until 2011. It is looking for between $50m and $100m in damages. The dispute relates to how SiriusXM defines its gross revenues, of which a statutory rate is applied for music royalties (6% in 2007, 8% in 2012). SoundExchange is claiming that SiriusXM excluded pre-1972 recordings from its calculations as well as income from three different subscription packages. SiriusXM is also facing down a separate $100m class action, led by Sixties band The Turtles, over alleged infringement of these contentious pre-1972 recordings. SiriusXM reported profits of $126m in Q2 this year and ended 2012 with 23.9m subscribers. With Pandora at the centre of an ongoing royalties dispute with ASCAP and artists including Pink Floyd, this is an issue that will sharply direct the rest of the year.
Source: Billboard
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