SiriusXM satellite radio is neglecting to pay artists for the broadcast of music recorded before 1972, according to a new lawsuit filed by royalty collection group SoundExchange.
The Rolling Stones are among the groups groups cited in the suit, which is seeking between $50 and $100 million in compensation on behalf of the affected artists.
As Vintage Vinyl News summarizes it, "SiriusXM have taken the position that they don't owe royalties on any recording made prior to February 15, 1972, due to a federal statutory license."
The lawsuit accuses SiriusXM of "knowingly withholding royalties from the creators who bring life to their service, even as the company continues to experience unprecedented and explosive growth."
SoundExchange president and CEO Michael Huppe said, "We cannot sit by and watch this multi-billion dollar company reap record profits from the creative contributions of artists and labels without paying them everything they deserve."
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