Internet radio service, Pandora, has seen a slight reprieve in its battle to stay alive.
The $13 million company, founded in 2000 as Savage Beast Technologies, gets about 1 million visits a day and is one of the 10 most popular iPhone applications and holds 16 million members. It’s based on the Music Genome Project, a database of analyzed songs that helps predict what songs listeners will like.
Pandora and other Web-based radio services have been negotiating with music-industry groups for more than a year now, hoping to agree on a workable royalty structure before the existing structure bankrupted webcasters. They need a little more time.
A critical vote in the House of Representatives went Pandora’s way, the founder of the company explains: “We’re thrilled to let everyone know that the House bill passed! Thanks to your incredible support we were able to overcome the NAB’s efforts to derail us. Phone calls rained into the congressional offices over the past 36 hours. Just amazing.
“We’re not done. We still need to get the bill through the Senate, which looks like it will be voting on the bill on Monday.
“So stay tuned. We want to make sure the Senators know how important it is for them support our resolution. We’ll be reaching out again to ask you for one more push.
Our deepest gratitude. Tim Westergren, (Founder)”