Mechanical Licensing Collective sets creation costs and first-year budget

Progress continues with the Mechanical Licensing Collective, the organization formed by the Music Modernization Act to administer the new blanket licenses. The MLC has said it will need $37.25 million to build the structure and set its first-year operating budget at $29 million. Continue Reading

NPR: Podcast sponsorship revenue will exceed broadcast sponsorships in 2020

NPR has long been a leader in podcasting, and now the organization is forecasting breakthrough financial returns on the audio format. Deborah Cowan, chief financial officer at NPR, said that the network has projected that corporate sponsorship revenue from podcasts will reach $55 million in the 2020 fiscal year. Continue Reading