IFPI and BIEM renew Standard Contract on royalty payments
A new standard agreement to regulate the royalty payments from record companies to authors' collecting societies for physical formats has been reached.
BIEM and IFPI have renewed the contract which covers continental Europe and comes into effect from January 2014.
An earlier agreement between BIEM and IFPI ended in June 2000. Since then, the applied terms and conditions remained unchanged.
Under the terms, the effective rate has been adjusted from 9.009 percent of PPD to 8.712 per cent.
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