Sony/ATV CEO Martin Bandier has slammed the recent ASCAP rate court ruling - which will seen Pandora pay just 1.85% of its annual revenue to the PRO – as “a clear defeat for songwriters”.
ASCAP CEO John LoFrumento seemed similarly dissatisfied with the ruling, saying that “recent agreements negotiated without the artificial contraints of a consent decree make clear that the market rate for internet radio is substantially higher than 1.85%”.
However, LoFrumento said that the PRO is “pleased ...
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