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Monday, March 9, 2009

Smashing Pumpkin Billy Corgan testifies tomorrow in favor of a performance royalty

The guitarist and lead vocalist of the rock group Smashing Pumpkins is on a House Judiciary Committee witness panel that includes RIAA topper Mitch Bainwol, AFL-CIO executive Paul Almeida, and University of Texas at Dallas professor Stan Liebowitz. Speaking for broadcasters will be NAB Radio Board Chairman Steve Newberry of Commonwealth Broadcasting, and station owner/media broker Larry Patrick of Legend Communications/Patrick Communications. Judiciary Committee Chairman John Conyers backs legisltation to require broadcasters to pay a new performance royalty that some broadcasters say could total $1 billion a more a year out of an industry with $16-17 billion in total revenue last year – and much skimpier profits.

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