![]() But reaching profitability for both the services and artists means the RIAA first needs to make an effort to adjust its policies.Ĭyber Week is here! With some truly epic deals out there, this is the best time of year to buy a new tech gadget. With Spotify, Last.fm, Pandora, iHeartRadio, Rdio, and all of the other music streaming companies out there, there’s undoubtedly a market demand for Internet radio and online streaming music. Startups will end up spending millions of dollars on streaming, mechanical, radio licenses, not to mention the legal fees. ![]() AOL, Yahoo!, Launchcast, and MSN were among the major media companies that have fled pursuing Internet radio, and it’s an incredibly expensive venture with a high barrier to entry for many startups to pursue. A predatory licensing fee orchestrated over 10 years ago by the RIAA and their lobbyists in Washington has devastated Internet radio,” says Westergren. But all of this revenue is coming from a single company. “We think artists could and should ultimately earn even more. Right now, as much as 55 percent of Pandora’s revenue goes back into licensing fees, and if the RIAA changed its archaic licensing structure, the platform could afford to pay artists more. It’s a small number, and one he wants to change. Westergren revealed that Pandora accounted for only 6.5 percent of all radio listening in the United States. You still have to give credit where credit is due, and Pandora is certainly trying to change the outdated system responsible for managing the most important details in the music industry. And for Westergren to say that it’s “enabling musicians to earn a living” from using Pandora is an overstatement, since it really only applies to the top earners. Westergren is clearly promoting Pandora as a viable money-making distribution service, and notes that over 2,000 artists will be making $10,000 each, but it’s not quite that black and white. ![]() The music industry and its many gray areas and fine print make royalty payments incredibly complex, as multiple parties – managers, musicians, agents, music labels, publishers, distributers, and others – have to try and fit into the picture. If the artist has sold the copyright to another entity such as a label, the performing artist still would receive at least 45 percent of these amounts, non-featured artists would receive 5 percent, and the copyright owner 50 percent (some of which could make it back to the featured artist depending on the deal they struck when they sold their rights), again after whatever cost SoundExchange takes.” “If the artist retained ownership of the copyright, then the featured artist would receive 95 percent of these amounts with the remaining 5 percent going to non-featured artists (after whatever cost SoundExchange takes). Download Mobile Legends Bang Bang for Android.Download Adobe Flash Player for Windows. ![]()
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