Free Market Royalty Act

[AI summary unavailable — showing source text] Free Market Royalty Act - Amends federal copyright law to provide a public performance right for all audio transmissions of sound recordings, thereby extending such right to require terrestrial AM/FM broadcast radio stations to pay royalties for non-digital audio transmissions. (Currently, a performance right for sound recordings is provided only with respect to digital transmissions by cable, satellite, and Internet radio stations.) Eliminates statutory licensing royalty rates set by Copyright Royalty Judges (CRJs) for the public performance of sound recordings by noninteractive digital audio services. Allows any noninteractive services performing sound recordings publicly by means of an audio transmission (including cable, satellite, Internet, and AM/FM broadcasters) to collectively negotiate royalty rates for such performances. Designates SoundExchange, Inc. (an independent, nonprofit organization that collects and distributes royalties), or any successor entity, as the sole common agent to negotiate, agree to, pay, and receive royalty payments. Authorizes copyright owners of sound recordings, if a license is agreed to by the common agent, to subsequently negotiate and agree to …