Online Broadcaster’s Lobbying Efforts Pay Off – Rate Hike Pushed To July 15th
The Copyright Royalty Board (CRB) moved the due date for payments under the new rates from May 15th to July 15th, a significant win for the “little guy” since it opens the door for Congress to step in with legislation to combat the rate hike. The amnesty came on the same day that many broadcasters embarked on a “Hill Walk” lobbying Congressmen to co-sponsor a bill that would eliminate the new rates. The...
XM Satellite Radio Posts First Quarter 2007 Results
XM Satellite Radio reported that revenue for the first quarter of 2007 increased 27 percent year-over-year to $264 million, compared to $208 million in the 2006 first quarter. XM’s 2007 first quarter net loss narrowed to $122 million, representing an 18 percent improvement compared to the 2006 first quarter net loss of $149 million. XM ended the 2007 first quarter with more than 7.9 million subscribers compared to 6.5 million...
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