If Pandora wants the best chance of realizing its vision going forward, it needs to ratchet down the rhetoric, drop the motions and lawsuits and sit down at the table with the major labels and representatives for songwriters and composers to rewrite the music industry's rules for the digital age.
Of course that's been a mantra of mine for some time.
And, according to news just out at The Verge, Pandora and the industry players might just be listening:
Pandora, the web's top radio service, has held preliminary discussions with groups representing music artists as well as indie and major labels about ending an increasingly aggressive feud over music royalties, multiple sources familiar with the talks told The Verge.
Formal negotiations are expected to start soon, the sources said. This is the first indication that the parties are interested in amicably resolving the issue of how much to charge web radio services for music. The two sides began waging a public relations war against each other when Pandora went to Capitol Hill with legislation that would lower future music royalties.
Based on recent discussions I have had with Pandora officials and the ongoing public displays of pressure from the music industry, this doesn't surprise me.I'm scheduled to meet with Paul Williams, the President and Chairman of ASCAP, later this week. If anybody can fill in some gaps and offer an informed opinion along with some vision, it's Williams. Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV