(Web)Casting Call, Round II

Yesterday, we mentioned the House of Representatives' passing of the Webcaster Settlement Act of 2008. The bill allows copyright owners, performers and online broadcasters to negotiate royalty rates for webcasts in Congress' absence, and permits the implementation of an agreement — provided they can reach one. (Check out our previous post for the full rundown).

On Tuesday, September 30, 2008, the Senate passed its version of the bill, which now awaits signing by the President. The legislation allows all parties to negotiate through 2015, and sets set a royalty rate retroactive to 2006, pending settlement.

Such an agreement would set aside the Copyright Royalty Board's (the judicial body that decides royalty rates) 2007 decision, which many webcasters argued would drive them out of business.

As we've said in the past, we hope those involved in negotiations can come to an agreement that allows for the growth and stability of webcasting, but also provides fair compensation for creators.