(FOX NEWS) – Pandora opening a Pandora’s box in Washington over a copyright fight to slash the royalties it pays for music. Now, the artists are fighting back.
Billy Joel and Rihanna among the more than 100 musicians writing a letter of outrage to Pandora, saying its plan would slash the payments they get by 85 percent.
Never mind these same singers have gotten zero royalty payments from old-fashioned radio stations for decades. PANDORA HAD $275 million in revenue last year. But, it ran a loss of $20 million because royalty payments ate up over half of all revenue. Artists typically get forty-five percent of the total.