There’s been a lot of concern among in the community of fans of small and innovative music webcasters like Pandora about royalties being set by the U.S. Copyright Royalty Board – fees were set at rates which would have potentially put companies like Pandora out of business. With this new agreement, however, it looks like the industry folks have have relented a bit.
Details are in the NY Times article, but this pretty much sums it up:
“This is definitely the agreement that we’ve been waiting for,” said Tim Westergren, the founder of Pandora…
UPDATE: Tim Westergren’s summary is here. I really like those guys!
Music Labels Reach Royalty Deal With Online Stations