College Broadcasters Inc. (CBI) has announced that it has reached a settlement with SoundExchange in regards to the fees paid by student webcasters. According to a press release from CBI, this tentative settlement will “freeze royalty payments for the next five years. It would also continue to allow student webcasters to continue to file proxy reports in lieu of detailed data due to the nature of their operations and the size of the online audiences.”
The agreement still needs to be approved by the Copyright Royalty Board (CRB). It will update CBI’s previous agreement with SoundExchange, which is in place through 2015. In the new agreement, more student stations will be able to cut down on paperwork by filing proxy reports since “…the threshold for being able to report via proxy has risen from 55,000 total listening hours per month via the Internet to 80,000 total listening hours,” according to CBI President Greg Weston.