Pandora Sues Songwriters For Lower Rates While it Pays Execs $122 Million in Stock This Year

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:

http://seekingalpha.com/article/2896676-pandora-is-even-more-overvalued-than-you-think

 

 

3 thoughts on “Pandora Sues Songwriters For Lower Rates While it Pays Execs $122 Million in Stock This Year

  1. The past 3 years, according to the SEC, Pandora executives and investors extracted over $360 million dollars in “stock compensation”. This new $122 million dollar gravy train for 2015 will put Pandora executives at almost $500 million dollars for themselves in 4 short years while they plead poverty to Congress, Judge Stanton, Judge Cote, and the Copyright Royalty Board.

    Not bad for a guy who thought of the entire idea for Pandora while “tripping on psychedelic mushrooms”. — see Washington Post in 2013.

    It’s time for the SEC, DOJ, or Congress to shut down Pandora with a temporary injunction and have these executives PAYBACK these hundreds of millions of stolen royalty money to songwriters, music publishers, recording artists and independent labels and all their investors.

  2. Pingback: Pandora 'Needs' Lower Royalty Rates, But Will Pay Execs $122 Million In Stock This Year - South Carolina Music Guide

  3. i played music and went to college with the founder. nice guy. but, given his musician (un)friendly, royalty vacuum of a business, I cant see any executive from Scamdor deserving monies of this magnitude. A flawed model based on taking money from the mouths of musician’s babies. “Hey, I’m trippin’ and got a great idea. How bout we give other people’s art away for free and we take all the money that should go tto he artist! I’m brilliant!” (NOT)

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