SiriusXM Drops Counterclaims in $150M SoundExchange Royalties Battle
SiriusXM has dropped its counterclaims against SoundExchange in their ongoing dispute over allegedly unpaid royalties, though the main legal battle continues. The counterclaims, filed in mid-August, sought to recover allegedly overpaid royalties and challenged SoundExchange's choice of auditing firm.
SiriusXM has voluntarily dismissed its counterclaims against SoundExchange, though the underlying unpaid royalties battle is still in full swing. Photo Credit: SoundExchange
The original lawsuit, filed by SoundExchange, claims SiriusXM owes over $150 million in royalties, primarily due to alleged revenue misrepresentations in combined satellite and online radio packages. The dispute centers on different royalty calculation requirements for satellite versus digital packages, with SoundExchange alleging SiriusXM inflated webcasting values to reduce bundle royalty payments.
While the counterclaims' dismissal might suggest progress toward resolution, recent court activities indicate otherwise. The court recently approved a briefing schedule for SiriusXM's motion to dismiss, with deadlines spanning from October 28th to December 18th. A status conference on the 17th revealed ongoing disagreements between the parties.
Separately, SiriusXM is also involved in a rate court dispute with Broadcast Music, Inc. (BMI) over terms for 2022-2026.
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