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TheStreet Open House

Record Labels Screw Pandora, Spotify, Artists, Consumers Every Day

Stocks in this article: P NFLX SIRI

NEW YORK ( TheStreet) -- In case I haven't given it away in my writing, I'm not a big fan of most Wall Street analysts. So, right off of the bat, you and I (assuming you're not a Wall Street analyst) have something in common. Though, I understand many of those cats are self-hating anyway.

Nevertheless, the ones who are good (and there are many dozens) are damn good. Tony Wible, who covers Netflix (NFLX - Get Report) for Janney Montgomery Scott. Great example. It's also tough not to like Richard Tullo, who covers Pandora (P - Get Report), among other stocks, for Albert Fried.

Watch Tullo's Tuesday appearance on CNBC, where he does two excellent things we do not see enough on television or read as much as we should in print and online.

Number one. Tullo tells CNBC, Listen, Pandora is a great company, but it has run like 65% off of its lows. We would be nuts not to take profits; as such, we'll advise our clients to do the same. See, cost basis absolutely DOES matter .

Number two. He places blame where it belongs in the dysfunctional Web streamer/music label/artist relationship. It's squarely on the music labels. Watch the video. Everything Tullo says nails it -- makes perfect sense -- particularly the part about Adele's rise via MySpace.


I hope Tullo gets called in to testify in front of Congress. Of course, they will not call me, but, if they did, I would be there in a heartbeat. To defend not only Pandora, but Spotify as well. Make no mistake, if you defend Internet radio companies, you are standing up for musicians and consumers of music. That puts you at odds with the record labels.

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