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tainly no bargaining here. If the originally licensed rate was 2$,
Likewise, "budget discounts" are granted routinely by most publishers
You will note that the left-hand column of numbers in Exhibit I is
Licensing Under A Higher Statutory Rate
If the sta
cory rate is increased, licensing will be handled just as now, because of the following persistent, compelling reasons.
More than 50,000 licenses a year will continue to be issued on behalf of scores of publishing companies to scores of recording companies. Licenses will continue to be issued in a routine, near-automatic fashion through licensing and collecting agents, and with the vast majority of licenses being issued at the statutory rate or standard variations therefrom.
Only rarely will there be significant individual bargaining between a particular publishing company and a particular recording company for licensing under unusual terms and conditions. It is neither practical nor necessary for publishing and recording companies to spend much time or effort bargaining over royalty rates on thousands of individual tunes in advance of release of recordings and albums, because no one knows whether a tune will be successful or not.
The foregoing facts explain why it is that over 99% of all licenses
For the same reasons, under a higher statutory rate, the vast majority of licenses would also be issued routinely and in nearautomatic fashion at the new statutory rate or at standard vari. ation therefron.
In 1974 as in 1963 tunes
Let me now sum up the conclusions of our study. An objective analysis of the recording industry must reach the conclusions shown in Exhibit K.
No increase in the statutory royalty rate is justified.
Copyright owners are getting a larger share of the
An increase in the statutory rate 'would have impacts quite con-
Pressures toward higher record prices.
Reduced employment of musicians, studio engineers and
What I have just presented is a summary of the extensive, heavily doc:imented study that has been placed before you.
I would be glad to ar.swer any questions you may have.