The Verge reports on the battle over internet royalties…
Pandora struggles to win hearts and minds because its leadership lacks credibility, and has also been utterly inept at pitching the company’s plan to the public, press, and Congress. Pandora failed to generate congressional support to lower royalties last year and unless the company’s leadership dramatically changes its strategy, the popular radio service doesn’t appear to have a prayer of getting help from Washington any time soon.
Michael Pachter, a research analyst with Wedbush Securities, believes Pandora will eventually thrive but that its attempt to legislate lower costs is misguided. “The bill is idiotic,” Pachter said. “It’s insulting to Congress to say you want regulation to lower your costs at the expense of artists. Did you see who was on stage with Obama helping him campaign? Jay-Z and Bruce Springsteen. That’s the Democrats, and how many Republicans are going to want to legislate against capitalism and the free market?”
RED THE FULL STORY AT THE VERGE: