Pandora Chief Calls $2 Billion Royalty Milestone 'Promising News' for Industry
Pandora passed the $2 billion mark in royalties for artists and songwriters, nine months after hitting the $1.5 billion royalties mark, the company said Monday. Some 80 million users spend an average of more than 23 hours per month streaming…
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music on Pandora, it said. Pandora CEO Tim Westergren called the “rapid acceleration” of Internet radio royalty payments "promising news" for the industry, creating a “massive” revenue stream that previously hasn’t existed from radio.