Dallas, Texas 09/03/2013 (Financialstrend) – Sirius XM Radio Inc (NASDAQ:SIRI) today declared that it has appended The Dan Patrick Show, hosted by well known sports critic Dan Patrick, to the weekday assemble of shows on its all-sports chat channel, Mad Dog Sports Radio, SiriusXM channel 86.
Sirius XM Radio Inc sued over underpayment of digital royalty
Sirius XM Radio Inc has been litigated by Sound Exchange Inc for around $50 million because of underpaying on recordings, comprising ones before from 1972. Sound Exchange Inc, a nonprofit company with accountability of amassing digital royalties for music artists in US, lodged the suit in the US District Court of Colombia.
Sound Exchange Inc is a body named by the Copyright Royalty panel to amass and hand out performance royalties set up beneath federal law.
Sirius XM dodged royalty payment
In the claim, it is stated that from 2007 to 2012 Sirius XM “systematically” did not make payment of royalties to Sound Exchange for the legal license that permits the service to broadcast recordings to lakhs of paying users.
Additionaly, it was stated that Sirius XM reported less income by around 10 to 15% than it frequently does to compute the royalties. The move was planned to go with the recital with pre-1972 recordings.
Sound Exchange stated in its filing that the royalty charge to be filed on the gross income will be from 6% during 2007 to 8% during the last year.
“We cannot sit by and look at this multi-billion dollar firm reap record proceeds from the creative inputs of artists and labels without paying them everything they are worthy of,” Sound Exchange CE Michael Huppe stated in a report.
Other charges against Sirius XM
Aside from underpayment of royalties, the company was charged of many other matters such as exclusion from its income calculation of the money it drew from its clientele who subscribe to XM premier package.