Net Radio Granted A Temporary Reprieve
On Sunday the royalty fees of net radio were schedule to dramatically increase, but SoundExchange who actually collects royalties has testified in front of Congress saying they will not enforce the new rates.
Pandora founder Tim Westergren, who expressed relief that Pandora wouldn’t have to shut down on Sunday in response to the new rates. He said, “It was getting pretty close. I always had underlying optimism that sanity was going to prevail, but I was beginning to wonder.”
All parties are now hammering out more reasonable rates that should be announced in the near future.
