Liquid Compass Announces New Online Radio RIAA Royalty Reporting Tool
Liquid Compass, a leading content delivery network (CDN) that provides streaming and digital media services to the radio industry, 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.
“The new RIAA royalty reporting requirements pose a tremendous burden to stations that now must track, gather and submit per performance information to SoundExchange,” said Amy Van Hook, chief operating officer for Liquid Compass. “We developed RIAA Reporter to simplify the process and help our streaming clients deal with all the data collection, calculating and reporting that will be required to conform to the new monthly royalty fee structure.”
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 log on 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 station’s fee and provide it in a form acceptable to SoundExchange.
RIAA Reporter will be available to Liquid Compass clients in October 2007.
About Liquid Compass
Liquid Compass (www.liquidcompass.net) is a leading Content Delivery Network that provides streaming and creative media services to the radio industry. In addition to stream hosting services, Liquid Compass also provides customizable media player development, web development, online content and traffic management, and advertising sales.
Currently Liquid Compass provides streaming media services to more than 500 radio stations and networks including: Entercom, Lincoln Financial Media, Bonneville, Cumulus Media, Saga Communications, Crawford Broadcasting and more. For more information about Liquid Compass, please contact Zackary Lewis or Amy Van Hook at 303-839-9400, or log onto the web at www.liquidcompass.net.