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I write today to ensure you’ve heard the good news that the Copyright Royalty Board (CRB) issued its Final Determination upholding the rate increases in the Phonorecords III case. This covers on-demand digital streaming royalties for the years 2018-2022.

We expect these escalating topline revenue rate increases to result in more royalties paid to songwriters and publishers. This is in addition to the topline revenue royalty rate increase resulting from the settlement between the DSPs and Publishers for 2023-2027 in the Phonorecords IV case. Under the Phonorecords IV settlement, topline revenue royalty rates increased are increasing gradually from 15.1% to 15.35%.

As a long-time champion of songwriters’ rights and protections, we are pleased with this result, but of course there remains work to do. We are fully committed to driving continued progress to ensure that songwriters are fairly compensated, and that your immense value is recognized.

Simon Cowell and Syco Entertainment, the pioneers behind the world’s most successful talent discovery formats, and Universal Music Publishing Group (UMPG), the global publishing division of Universal Music Group (UMG), today announced the launch of SYCO Publishing, a boutique publisher dedicated to supporting and developing global songwriting talent.

The Bob Dylan Center [BDC] and Universal Music Publishing Group [UMPG], the world’s leading music publishing company, have joined forces to launch the Bob Dylan Center Songwriter Fellowship, it was announced today by BDC Director Steven Jenkins and UMPG Chief Operating Officer Marc Cimino. To be awarded to two recipients annually, the Fellowship was created to mentor and develop aspiring songwriters in association with the tremendous educational resources of the Bob Dylan Center.

Each Fellowship encompasses a $40,000 project stipend, public engagement and presentation opportunities, dedicated time in BDC’s Bob Dylan Archive® to study Dylan’s creative process, roundtrip airfare to Tulsa and accommodations in the city, mentorship from UMPG songwriters and executives, and recording time in Tulsa’s historic The Church Studio, the famous studio of Leon Russell.