SiriusXM trying end-run around SoundExchange

Print More is reporting that SiriusXM Radio is attempting to directly license music from record labels, bypassing SoundExchange, the nonprofit performance rights organization. In a letter to independent labels via Music Reports Inc., Sirius is offering to pay a royalty rate of 7 percent of gross revenues. That’s less than the 7.5 percent it now pays SoundExchange, which tracks airplay on radio stations for the purpose of collecting royalties for copyright owners.