XM Satellite Radio and the American Society of Composers, Authors & Publishers (ASCAP), have entered into a new five-year music licensing agreement. The ASCAP was established in 1914 and is the world's largest performing rights organization with over 130,000 composer, lyricist and music publisher members.The agreement provides for XM Satellite Radio to pay licensing fees (royalties) to ASCAP for the public performance of copyrighted musical compositions in the Society's repertory of over seven million works.
"XM is pleased to renew our agreement, which compensates ASCAP's composers and lyricists for their important contributions," said Eric Logan, Executive Vice President of Programming at XM Satellite Radio. "We look forward to continuing our productive and mutually beneficial relationship with ASCAP and its members."
This is not the RIAA is it?
No, the RIAA represents the record labels. ASCAP is one group that represents and protects the copyrights of the songwriters. Its main rivals are BMI and SESAC which essentially do the same thing.