Internet Radio Fairness Act of 2012

[AI summary unavailable — showing source text] Internet Radio Fairness Act of 2012 - Amends federal copyright law to direct the President, with advice and consent of the Senate, to appoint the three Copyright Royalty Judges (CRJs) who serve on the Copyright Royalty Board. (Currently, the Librarian of Congress appoints CRJs after consultation with the Register of Copyrights.) Increases the years of legal experience and other qualifications necessary to serve as a CRJ. Amends the Digital Millennium Copyright Act with respect to the standards applied by CRJs to establish compulsory licensing royalty rates for the public performance of sound recordings by noninteractive digital audio services. Replaces the standard that CRJs apply to establish rates for eligible nonsubscription transmissions (including Internet radio, commonly referred to as webcasting) and new subscription services with the standard currently used to establish rates for subscription services (digital cable radio) and satellite digital audio radio services (satellite radio) existing on or before July 31, 1998. (Replaces a standard based on the rates and terms that would have been negotiated in the marketplace between a willing buyer and seller with a standard that …