The Copyright Royalty Judges announced that they received notices from SoundExchange, Inc. to audit the financial reports for the years 2017, 2018, and 2019 from several commercial webcasting companies like Cumulus Media and Pandora Media, LLC. This audit is to ensure that the royalties due under certain licenses, which let these companies legally stream digital audio, have been paid correctly. SoundExchange is authorized to do such audits once a year, and they must notify both the companies involved and publish in the Federal Register within 30 days of filing the notice. This notice fulfills that requirement for the audits initiated by SoundExchange.
Simple Explanation
In simple terms, some people from a group called SoundExchange want to check if companies like Cumulus Media and Pandora paid the right amount for music they played on the internet in the past. They need to do this check every year to make sure everything is fair.