Online Radio Temporarily Saved
At Thursday’s Congressional hearing about the new rates for online radio that would essentially destroy it, SoundExchange, which was scheduled to receive the new royalty payments on Monday morning (since the enforcement date falls on a Sunday), made a startling statement. The SoundExchange executive [Jon Simson, executive director] promised — in front of Congress — that SoundExchange will not enforce the new royalty rates. Webcasters will stay online, as new rates are hammered out. I just spoke with Pandora founder Tim Westergren, who expressed relief that Pandora wouldn’t have to shut down on Sunday in response to the new rates.… Read more »