As the linked article below points out, it's astounding that hasn't been the case all these decades. 

"It’s hard to believe that the United States is one of only four countries that doesn’t pay royalties to performing artists when their songs are played on the radio. The others? North Korea, Iran and China..."

"...the Righteous Brothers, who’s song “You’ve Lost That Lovin’ Feeling” is the most played song on the radio ever with more than 15+ million plays since its release in 1964, never received a dime from all that radio airtime. Its writers (Barry Mann, Cynthia Weil and Phil Spector) got rich from it, however."

Even If Passed, This Artist Radio Royalty Bill Is Too Little Too Late