Panel Sets Royalty Rate for Webcasters
Though the Copyright Royalty Board boosted the rate Pandora and some other companies will have to pay, it didn't go nearly as high as music providers hoped.
December 16, 2015 at 12:25 PM
2 minute read
SAN FRANCISCO — A federal agency on Wednesday announced an increase in the rates that webcasters such as Pandora Media Inc. have to pay in royalties to music artists to play their songs on free online services.
Pandora Media Inc. and other free webcasting services like iHeartRadio will have to pay 17 cents per 100 song plays, up from the current rate of 14 cents per 100 plays following a ruling from the three judges on the Copyright Royalty Board. Shares for Oakland-based Pandora were up in after hours trading following Wednesday's announcement.
Although the new rate is higher than the 11-cent rate proposed by Pandora's lawyers at Weil, Gotshal & Manges, it fell well short of the 25 cents per 100 plays requested by SoundExchange, an agency that collects digital royalties on behalf of the recording industry. The industry group was represented in the Copyright Royalty Board proceedings by counsel from Munger, Tolles & Olson. Wednesday's board decision does not apply to interactive streaming services such as Spotify and Apple Music which negotiate their own royalty rates with record companies.
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