Pandora: Copyright Royalty Board Issues Ruling; New Rates Balanced

(RTTNews) - Pandora (P) announced the Copyright Royalty Board has released the rates and terms for the "Web-IV" rate-setting proceeding, establishing the sound recording performance royalty rates paid to performing artists and record labels by Internet radio services for the period of 2016-2020. The rates represent a 15 percent increase over Pandora's 2015 effective per-performance royalty rate.

"This is a balanced rate that we can work with and grow from. The new rate structure will enable continued investment by Pandora to drive forward a thriving and vibrant future for music," said Brian McAndrews, CEO of Pandora.