| NMPA announces website and hotline dedicated to NMPA Late Fee Settlement Program |
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NMPA Late Fee Settlement In the most recent Copyright Royalty Board (CRB) proceeding last year, NMPA requested, and the CRB ruled, for the first time, that music publishers and foreign societies are entitled to collect a late fee of 18% annually for late payments of royalties from record companies and other music distribution services. In response to the ruling, the NMPA, The Harry Fox Agency (HFA), and the Recording Industry Association of America (RIAA) entered into a Memorandum of Understanding (MOU) on November 10, 2009. The MOU creates a comprehensive program (NMPA Late Fee Program) whereby the major record labels and music publishers will work together to improve mechanical licensing practices and encourage prompt dispute resolution. The major record labels have represented there could be well in excess of $200 million in pending and unmatched accrued royalties that have not been distributed to the music publishers ($275 million in Pending & Unmatched Royalties minus accrued royalties cleared through the cooperative efforts of major record labels and music publishers, and for some Pending & Unmatched Royalties accrued for products released since January 1, 2009). Music publishers who owned or administered works released by major labels between 2000 and 2008 may be entitled to receive compensation through the settlement of these pending and unmatched funds owed to the publishers by the major record labels. Today, NMPA has launched a website and hotline with information for publishers who are interested in enrolling in the settlement program. An independent third-party Program Administrator, Ken Feinberg, has been engaged by the NMPA to determine and distribute payments to music publishers through the NMPA Late Fee Program. 1-866-249-8110 www.nmpalatefeesettlement.com About the NMPA Founded in 1917, the National Music Publishers' Association (NMPA) is a trade association representing American music publishers. The NMPA's mandate is to protect and advance the interests of music publishers and their songwriter partners in matters relating to the domestic and global protection of music copyrights. # # # |