The Board of Hipgnosis welcome the decision of the US Copyright Royalty Board (CRB) to disallow the appeal by various streaming services against the CRB III determination to increase mechanical streaming royalty rates for songwriters and publishers. 

The increase, which is incremental over the period covered by CRB III (1 January 2018 until 31 December 2022) will culminate in a 44% uplift in the “all in” (mechanical and performance) statutory minimum rates for streaming paid in the US, rising from 10.5% of streaming revenues prior to 2018 to 15.1% in 2022.