There they go again!
Pandora is currently suing BMI songwriters for lower rates. Last year it was ASCAP. They’ve also been been sued by The Turtles for refusing to pay royalties to artists who recorded before 1972. Pandora’s entire business model seems to be either suing songwriters or artists and trying to set us against each other.
And taking money off investors.
Pandora plans to pay its top executives $122 million in “Stock Compensation” for this year alone. That’s right, the money-losing Pandora plans on paying executives $122 million in stock this year. Unbelievable. This is on top of their already inflated Silicon Valley size salaries. No wonder their stock is collapsing. It sure looks like the executives are vampires sucking the company dry. While pleading poverty to the BMI rate court judge and public. I don’t understand how these people stay out of jail.
“The Specialist” at Seeking Alpha has carefully detailed how virtually all the losses at the company can be attributed to overcompensation of executives through this “Stock Compensation”. Read it here: