While Pandora is busy in court suing BMI songwriters for lower rates we thought you’d like to read this guest comment from George Johnson.
“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. (Ed note: New information suggests it’s closer to $550 million.)
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.”