By Syndicated Content
Jan 15, 2021 2:50 PM
WASHINGTON (Reuters) - The U.S. Justice Department s top antitrust official said on Friday the administration won t scrap decades-old agreements with music licensing groups ASCAP and BMI that hold down costs for Spotify and others.
The department s review of the matter had been closely watched since scrapping the 1941 consent agreements could upend the business of licensing music to online companies like Spotify and Pandora as well as movie companies, commercials, bars and restaurants.
Without the decrees, companies of any size seeking to play music would have to negotiate rights in a chaotic transition while also facing the prospect of price hikes, said the MIC Coalition, whose members include the Brewers Association and National Restaurant Association.
The Dept. of Justice has ended its ASCAP/BMI consent decree review without taking action, meaning agreements governing PROs will continue to exist as they have.
Justice Department Leaves Music Industry Consent Decrees Unchanged lmtonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lmtonline.com Daily Mail and Mail on Sunday newspapers.
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