Pandora Founder: New Webcasting Royalty Rates "Would Bankrupt Us"

That's the word from Pandora's founder, Tim Westergren. Pandora is a web radio service that learns what you like as you listen more. Westergren was interviewed at dailytech.com by Tom Corelis: "The new rates would bankrupt us, along with every other webcaster in currently in operation. Without a doubt, for us it’s a really misguided decision...These rates essentially don’t rely on the understanding of the economics of web radio."

Earlier Archived Stories on the Royalty Issue:
* Who is Trying to Control Internet Radio? Follow the Money...
* New Royalty Rates Announced for Webcasters
* New Royalty Rates Set to Silence Many Internet Radio Stations
* Webcasters Can Survive by Becoming King of Their Content

What Happened On This Day in Radio History: September 2