MusicFIRST really needs to have their heads examined. They’re in a tizzy because, allegedly, Pandora executives have done what executives at companies post-IPO do – cash out some shares. And since these folks own a lot of shares, that can add up to a lot of money. But what does this have to do with the central question of onerous music royalty rates and the Internet radio industry’s long-term ability to profit in the face of them? Forgive the Econ 101 lecture, MusicFIRST, bu
And so the critically important fight over music rights fees wears on. Pandora lobbies in favor of the Internet Radio Fairness Act now before Congress so as to make not only its business but the business of every current and future company playing music online more viable (keep in mind, Pandora has yet to turn a profit thanks largely to withering and model-killing rights fees foisted on the industry by the labels). The MusicFIRST coalition (shouldn’t it be called LabelsFIRST?