Webcasters get a reprieve

Written by tinfoil on Tuesday, 08 October 2002 13:23

(yahoo!) Webcasters making under 250,000 now have a chance in surviving.

Negotiators for both sides struck a deal on Sunday that will help greatly in keeping everyone's favourite streaming radio website open. For the first time in recorded history, the recording industry made some large concessions.

The deal was passed by the House on Monday and sees streamers making under a quarter million $US paying out only 10% of their revenue or 7% of their expenses, whichever is greater. Those making between US$250,001 and US$500,000 will be out 12% on revenue or 7% of expenses.

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