Pandora banks on advertising over music sales
- 00:09:37
- Vator TV
Pandora banks on advertising over music sales
CEO Joe Kennedy on monetization of the personalized Internet radio station Just this month, the Senate passed a bill extending the time for Internet radio stations and music owners to agree on royalty payments. It's now up to President Obama to sign this bill. At stake is millions of dollars that can make or break the leading Internet radio station, Pandora. While Pandora expects to rake in $40 million in sales this year, double last year, more than half is expected to go toward royalty payments. Currently, Pandora pays 3 cents per listener per hour, said CEO Joe Kennedy. But he expects the RIAA (Recording Industry Association of America) - which has historically pushed for higher fees - won't prevail in driving them higher. In this second part of a three-part interview ... [ Read more ]
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Vator TV | June 30, 2009
