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Pandora Media, Inc. Message Board

  • b_shady99 b_shady99 Nov 28, 2012 12:43 PM Flag

    IRFA Will Fail

    Why does P think they should receive privledged treatment and be allowed to steal artists music and give it away for free just because they have a terrible business model? Logic and facts will prevail, and the IRFA will fail:

    In advance of today's hearing, ASCAP, BMI, SESAC and the NSAI have released a letter calling on Congress to address the concerns of songwriters and composers.

    In a joint letter to Committee Chairman Bob Goodlatte and Ranking Member Mel Watt, the groups have laid out their reasons for opposing the Internet Radio Fairness Act. In the letter, the organizations say, "This undervaluation of the public performing right runs contrary to global practices which often yield two times the fees generated by U.S. license rates or more, when compared to equivalent economies, and represents a trend that is harmful to both America’s music creators and the larger economy. Any Congressional examination of online music licensing issues needs to address this serious, broader issue to ensure that the interests of writers and publishers – the very creative foundation fueling the music industry – are not further deteriorated."

    In their letter, the organizations note that due to different royalty rate settlements for different parties, there is now a inequality in royalty payments. The organizations note that, "Pandora’s 2012 annual report stated that it paid 49.7% of its revenue in royalties to SoundExchange, and 4.1% of its revenue in royalties to the U.S. PROs, namely, ASCAP, SESAC, and BMI. In other words, from the total pool of monies paid for the performance of music and sound recordings, almost 92% of the money paid by internet radio flows to record labels and performing artists through SoundExchange, and only 8% of it is paid to songwriters and publishers…This almost 12-to-1 disparity in SoundExchange and PRO payments is unprecedented in the global music marketplace. Around the world, the opposite occurs; the public performing right in the underlying music composition is paid at far higher rates than the public performance right in the sound recording. In fact, the latter right is sometimes referred to as a 'neighboring right,' in recognition that rewarding the creators of the musical work -- when it is publicly performed -- is a central tenet; without the creation of the underlying musical work, there would be nothing to record."

 
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