IN STORES NOW
Some of the biggest names in the global music market have released an open letter to internet-radio site Pandora, opposing the company’s plan to cut artists' pay when music is streamed through the site.
Internet radio companies such as Pandora are pushing Congress to pass the "Internet Radio Fairness Act," H.R. 6480/S. 3609, which could slash by 85 percent royalties paid to musicians and artists when their songs are played over internet radio.
The 125 artists which include Billy Joel, The Doors, Pink Floyd and 40 Grammy award winners praised Pandora - "We are big fans" - and celebrated the company's commercial success. But with massive growth in revenues and a successful IPO under its belt, they asked why Pandora is pushing Congress to slash musicians' pay. "That's not fair and that's not how partners work together," the open letter explains.The open letter will be published as a double spread in this weekend's Billboard Magazine.