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 industryís total, and its 8.5 percent listener share, noting that "Itís 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
Darrin Arriens Appointed PD At KSKS/Fresno
Westwood One Names Jack Foley Vice President, Business Development
Raphael Takes Over Evenings On Q102/Philadelphia
iHeartMedia, Live Nation To Present the iHeartRadio "On The Rise" Tour
Radionomy Unveils New Interface For RadioManager
In Brief - October 1, 2014
September 30, 2014
iHeartMedia Atlanta Names New Market President and Vice President of Sales
iHeartMedia Myrtle Beach Names Zac Davis Operations Manager
Tim Maranville Joins Cross Platform Media Group As Chief Content Officer
Study: New Brain Research Demonstrates High Effectiveness Of Radio Advertising
Survey: Justin Timberlake Is Musicís Best Male Role Model
In Brief - September 30, 2014
September 29, 2014
Jon Pinch Delays Retirement, Named Market Manager At Cumulus-Atlanta
iHeartMedia Names Earl Jones SVP, Urban Operations
Report: Few 13-20ís Name FM As #1 Music Source
New Study: Radio An Effective Way To Influence Swing Voters
In Brief - September 29, 2014
September 26, 2014
eQB NOW
The Week In Review: 9/22-9/26
Cox Media Group Names Pete Spriggs News/Talk/Sports Radio Format Leader, Drew Anderssen Format Coordinator
Mann Gets HOT From HITS In Bakersfield
ErrorFM.com Announces Launch Date, Features
In Brief - September 26, 2014
September 25, 2014
iHeartRadio Music Festival Generates 5 Billion Social Impressions
In Brief - September 25, 2014
September 24, 2014
Music News
Tony Bennett & Lady Gaga Land #1 Album
Quick Hits: U2, Eddie Vedder, Alt-J
Lorde Drops "Yellow Flicker Beat"
Quick Hits: Gwen Stefani & Pharrell Williams, Mary Lambert, Alex & Sierra
Taylor Swift, Metallica & More Headlining 2015 Rock In Rio USA
Quick Hits: Britney Spears, Prince, Birdman, Black Sabbath, Rancid
Thom Yorke Releases Surprise Solo Album Via BitTorrent
The Week In Review: 9/22-9/26
Quick Hits: R.E.M., AC/DC, U2
Metallica Has Goodies In Store This Holiday Season
Quick Hits: Justin Bieber, Kanye West, Wiz Khalifa & Amber Rose, Brandi Carlile, Neil Young, Bob Seger
Streisand, Chris Brown Top SoundScan Sales Chart
Nickelback Moving To No Fixed Address In November
Quick Hits: AC/DC, Bruce Springsteen, Weezer, Outkast, The Who
T.I. Gets Paperwork In Order
FMQB NOW

Celebrating
The History Of
WFLZ/Tampa

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!