IB Research reports<\/a>) or Spotify are somewhat responsible for taking album dollars out of the pockets of artists, they should at least be making up a decent amount of that lost income. It makes the Internet Radio Fairness Act seem all the more absurd.<\/p>\nThe Market Realist Take<\/p>\n
With online streaming and Internet radio services becoming more popular than listening to CDs, the music industry and Internet radio companies like Pandora have been embroiled in a continuing battle over royalty payments. Pandora has stated that its profitability has been affected because Internet radio stations have to pay six times the royalty rate of other mediums. Pandora pushed for the passage of the Internet Radio Fairness Act, which would lower royalty rates, but the bill faced stiff opposition from labels, publishers, and music artists. Pandora Media recently won a case against the American Society of Composers, Authors and Publishers (ASCAP) with a federal judge ruling that ASCAP has to provide Pandora access to its entire catalog of music through 2015, when the current licensing terms are up for renewal.<\/p>\n
Clear Channel and Warner Music Group struck a mutually beneficial partnership deal in September that will allow WMG to promote its artists through Clear Channel in return for low royalty rates on Clear Channel\u2018s iHeartRadio. Although this deal was considered groundbreaking, there\u2019s no actual legislation yet that will ensure fair compensation for the artists. The entry of tech giants Apple Inc. (AAPL), with its newly launched iTunes Radio, and Google (GOOG) will create more competition for companies like Pandora (P), Spotify, and Sirius (SIRI). These new radio services are taking market share from legacy AM and FM radio station companies like Cumulus Media (CMLS).<\/p>\n
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Source: Yahoo.com<\/p>\n","protected":false},"excerpt":{"rendered":"
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