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. Continue reading
Sometimes you just have to despair at the actions of the labels and their good buddies in government, why is the music industry about the only one to receive this level of trans-national government protectionism.
It sucks and kills innovation – bad for music, bad for artists (because it legitimises old-fashioned Tin Pan Alley money-grabbing) and bad for consumers – though probably quite good for the funny handshake and rolled up trouser leg brigade, but I digress.
I came across the Motley Fool’s account on the slow destruction of Pandora at the hands of iniquitous royalties being demanded for internet radio by SoundExchange. I think they get it just about right,…