TweakTown
Tech content trusted by users in North America and around the world
5,922 Reviews & Articles | 38,160 News Posts

Pandora releases some interesting facts about payments to artists, usage numbers

Some artists make $2 million in revenue from Pandora's streaming, many make $100k+

| Internet & Websites News | Posted: Oct 9, 2012 8:31 pm

Everyone's favorite online radio, Pandora, had its CEO reveal some interesting numbers at the SF Musictech Summit in San Francisco. Among these tidbits of information is the bit about how some artists are making over $2 million dollars in revenue from Pandora. "You would be surprised how many artists are making over $100,000."

 

TweakTown image news/2/6/26138_1_pandora_releases_some_interesting_facts_about_payments_to_artists_usage_numbers.png

 

These payments to artists are hurting Pandora's bottom line. As it stands right now, Pandora has to pay much more in royalties than satellite providers and typical radio stations do. "We want the same standard being extended to web radio that currently is being applied to our competition," said Westergren.

 

Pandora pays over 55 percent of its entire revenue to Soundexchange, an agency that collects for licenses for performing musicians. This is something that normal radio stations don't have to do. Instead, they just pay money to composers. As Pandora has gained users, their losses have continued to mount. If musicians want Pandora to be able to stick around, they're going to need to lower their fees.

 

Another interesting bit that was released by Pandora at the summit is the fact that the company now streams more hours of music per month than YouTube streams hours of video. I'm sure YouTube is still transferring more data overall.

NEWS SOURCE
Gigaom.com

Related Tags

Further Reading: Read and find more Internet & Websites news at our Internet & Websites news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases