The Copyright Royalty Judges received notices from SoundExchange, Inc. indicating their intent to audit royalty payments from commercial and non-commercial webcasters for the years 2021 to 2023. These audits will examine the accuracy of royalty payments made by companies like Beasley Mezzanine Holdings, iHeartMedia, and Family Stations, Inc., under statutory licenses. SoundExchange is responsible for collecting and distributing these royalties and can conduct such audits once a year to ensure compliance. This notice was published to fulfill the requirement of announcing these intentions in the Federal Register.
Simple Explanation
SoundExchange wants to check if some radio companies paid the right money for playing songs in 2021, 2022, and 2023, so they're doing a big review or "audit" to make sure everything is correct. These checks help make sure that the musicians and song creators get paid fairly.