Report: Pandora To Pay 25% More In Royalties To Sony/ATV
January 17, 2013 at 3:51 AM (PT)
The cost of doing business at PANDORA is reportedly about to rise. THE NEW YORK POST reports SONY/ATV has negotiated a 25% increase in royalties from the webcaster. "SONY/ATV, a joint venture between SONY CORP. and the MICHAEL JACKSON estate, secured the big jump up after it pulled digital rights from two associations effective JANUARY 1st, industry insiders told THE POST."
The deal is set to run for all of 2013.
SONY/ATV CEO MARTIN BANDIER told THE POST, "At the end of the day, we got a terrific deal for our songwriters. Our thinking has been vindicated. Hopefully it’s the first of many."
Other Internet stations are likely to also see increases.