Legislation is pending in Congress to impose a substantial new tax on local radio stations for the benefit of foreign-owned record companies and wealthy performers. Many radio broadcasters are already struggling with a down economy and increased competition. It's a tough enough business already.
Radio sustains itself in only one way - by selling advertising. The current business model has worked for decades. The artists get their music played and promoted on radio for free - and because of that, many of them become rich and famous.
Now, because of digital sharing and theft, the record companies are in trouble. They want to bite the hand that feeds them and have radio stations pay a royalty for music. Others pay, why not radio? The answer is simple - no other music platform advertises their product for free. Plus, the broadcasters also help raise money for the United Way, March of Dimes, and hundreds of other local charitable events.
This new tax would increase the cost of local advertising for local merchants and result in the loss of jobs in broadcasting in North Carolina. The good news for us - our legislators in Washington get it. Join us in thanking Senator Richard Burr, Senator Kay Hagan and Congressman Mike McIntyre for opposing this unfair tax and protecting local merchants and jobs in broadcasting in North Carolina.
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