Washington - SoundExchange, the entity set up by the recording industry to collect and distribute digital royalties, said on Thursday it is in discussions with some webcasters to "explore mutually beneficial business arrangements," in the wake of higher royalty rates announced by the Copyright Royalty Board (CRB) that many webcasters say will put them out of business.

SoundExchange said it contacted some services several weeks ago to seek information and schedule possible discussions, and is willing to meet with additional commercial and non-commercial webcasters.

"We sought a dialogue with these services in order to determine if there is an appropriate business solution that addresses their concerns while still ensuring fair compensation for artists," said SoundExchange general counsel Michael Huppe.

Despite its willingness to hear the concerns of webcasters, the organization maintains that it believes the CRB's decision was sound and reflects the fair value for music in the market.

"We recognize that there may be certain needs and expectations, as expressed by webcasters in recent days, that might possibly be addressed through direct discussions," said SoundExchange executive director John Simson.

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