On Friday, October 25, SoundExchange, an organization established by the music industry to collect and distribute royalty payments, announced that it would hold off collecting royalties from webcasters until the US Senate reconvenes to consider legislation that would codify a rate approved by the music industry, a webcasters' organization, and the US House of Representatives.
A reduced rate agreed to by the Recording Industry Association of America (RIAA) and the Voice of Webcasters (VOW) was unanimously approved by a…