Pandora has reportedly given Sony/ATV/EMI a 25% increase in royalty payments after the music publisher took a step away from digital rights management with ASCAP and BMI effective from January 1.
The internet radio upstart has been vocal in the past about “astonishingly high” royalty rates, but executives have had to offer Sony/ATV the new rate that is said to run for the next 12 months.
Sony/ATV declined to comment on the terms of any deal, but CEO Martin Bandier, told The Post: “At the end of the day, we got a terrific deal for our songwriters. Our thinking has been vindicated. Hopefully it’s the first of many.”
Other copyright holders currently get around 4 percent of Pandora's total gross revenue, which was $274.3 million in 2012.