Pandora Exec Expects Decrease In Percentage Of Revenue Paid In Royalties
March 20, 2013

Pandora CFO Mike Herring expects that the popular digital music site will be able to lower its royalty payments in the coming years. Pandora currently pays out around 60 percent of its revenue to artists and labels, but Herring predicts that number could go down to 40 percent in the future, according to Bloomberg.

Speaking at an investor conference in California, Herring said Pandora expects to reach this 40 percent figure over the next few years. He added that the service is working to close the gap between its ad revenue, which is current at approximately one percent of the radio industry’s total, and its 8.5 percent listener share, noting that "It’s a long road."

Herring added that Pandora is now gearing up for "a long debate" on setting the royalty rates for 2016 and beyond, according to Bloomberg. A two-year arbitration process to set the new royalty rates is slated to begin in January 2014.




 
Breaking News
Senate Approves Michael O'Rielly For Five-Year FCC Term
Nielsen Report: A Focus On The Public Radio Listener
iHeartRadio Jingle Ball 2014 To Air On The CW Network
In Brief - December 17, 2014
December 16, 2014
Beasley Names Rafe D'Amico VP/Strategic Partnerships
NRG Media Taps Shane Sparks Market Manager, Northwoods, WI Cluster
Shazam Upgrades Windows Phone App
KLUC’s 16th Annual Chet Buchanan & The Morning Zoo Toy Drive Breaks Records
Rdio Brings Personalized Internet Radio, On-Demand Music Subscription To Windows Phone 8.1
In Brief - December 16, 2014
December 15, 2014
CBS Radio, Carson Daly Agree To Multi-Year Contract Extension
JVC Media Closes On Purchase Of WHKQ/Orlando
Bruce Gilbert Named SVP/Sports For Cumulus And Westwood One
Don Martin Rises To SVP/Sports Programming For Premiere Networks
Columbia Promotes Bryan Younce To SVP/Video, Content Production
In Brief - December 15, 2014
December 12, 2014
Jayde Donovan Joins WPLJ As Morning Co-Host
The Week In Review: 12/8-12/12
Nikki Landry Named PD/On-Air Talent KKMG
ASCAP CEO John LoFrumento Announces Retirement
In Brief - December 12, 2014
December 11, 2014
Warner Music Group Reports Results For Fiscal Fourth Quarter
CBS Corporation Announces Contract Extension With Leslie Moonves Through 2019
iHeartMedia To Sell Select Portfolio Of Radio Towers To Vertical Bridge
Cumulus Elevates Brad Marshall To VP/Market Manager In Youngstown, OH
In Brief - December 11, 2014
Music News
Green Day, Joan Jett Make The List For Rock Hall
Quick Hits: Imagine Dragons, Iggy Azalea & Britney Spears, Mad Season, David Byrne / Talking Heads tribute concert
Iggy Azalea Maps Out Arena Tour
Quick Hits: Ne-Yo, Selena Gomez, Gwen Stefani & Pharrell Williams, Stevie Wonder, Everclear, Alex & Sierra, Modest Mouse
Taylor Swift Spends Another Week At #1
The Week In Review: 12/8-12/12
Quick Hits: Epicenter Festival, Beyoncé, Dr. Dre, American Music Priz
Quick Hits: Coldplay, New Year's Rockin' Eve, Golden Globe Song nominees, Judas Priest
Quick Hits: BET Honors, Modest Mouse, Rush
U2 Extends iNNOCENCE + eXPERIENCE Tour
Quick Hits: Kid Ink, Seether & Rise Above Fest, TV On the Radio, Bob Dylan
Beyoncé, Sam Smith & Pharrell Nab Six Grammy Nods
Quick Hits: Nicki Minaj, Elton John & New Year's Rockin' Eve, The Gaslight Anthem, Hozier, Green Day
57th Annual Grammy Nominations Announced
The Week In Review: 12/1-12/5
FMQB NOW

Jon Zellner
SVPP, iHeartMedia

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!