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Pandora inked a licensing deal Thursday with music giant BMG for the rights to large catalogs from Broadcast Music Inc. and American Society of Composers, Authors and Publishers, two organizations that collect royalties for songwriters and artists such as Adele, Beyoncé, Bruno Mars, One Direction and Rihanna.
The publisher deal with ASCAP and BMI comes just weeks after Pandora secured its first label deal with Merlin
"I'd like to think this is the beginning of a new relationship with Pandora and the music industry generally," Pandora Chief Financial Officer Mike Herring said during a webcast. "Now we have an example on both sides of the royalty debate. ..Hopefully over time we'll prove the value of Pandora's platform." Read more...
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