Austin
– Streaming music service Pandora last year paid out over $28 million in
royalties to SoundExchange, which distributes digital music royalties to labels
and artists, Digital Music News reported, citing remarks from CEO Tim
Westergren. That figure — which does not include publishing royalties paid by
Pandora — represents roughly 44% of all Internet radio royalties collected,
and just over 1% of the overall radio marketplace. Pandora recently disclosed
that it generated $50 million in revenues in 2009.
Related Links:
http://www.digitalmusicnews.com/stories/031710pandora/view
