A five-year dispute comes to an end as Sony has decided to pay an $8 million dollar settlement to a group artists, including Cheap Trick and the Allman Brothers, for money owed on digital music revenue.
This particular case is one of many lawsuits between artist and major record label, but is the first to be settled.
Billboard reports a filing by the attorney in the class action suit, which also includes the Youngbloods, revealed Sony will pay $7.95 million to settle claims in the case and will also give artists a 3% bump in royalty rates in regards to digital sales.
A majority of the settlement will go to artists that have sold over 28,500 total downloads in Apple’s iTunes store, though some who have not met that mark will still receive a small fraction of the cash.
Latest from WCBSFM.com >
- Excitement, Concern Ahead Of Saturday’s Annual SantaCon
- Chris Squire of Yes Talks Rock Hall, Jon Anderson and Jimmy Page
- Mr. G’s Weekend Forecast: More Snow On The Way
- Bob Barker Celebrates 90th Birthday On ‘The Price is Right’
- Anti-Defamation League Says Roger Waters is an Anti-Semite
- Beatles, Isley Brothers To Receive GRAMMY Lifetime Achievement Award