Digital radio company Pandora has agreed to a $90 million settlement to the major labels and ABCKO for its use of recordings created before 1972.
The news comes four months after the same parties settled with satellite radio giant Sirius XM for its use of pre-1972 recordings.
In that case, the music rights-holders received $210m – more than double the amount Pandora has agreed to pay out.
“Pandora is excited to have found resolution with these record labels,” said Brian McAndrews, Chief Executive Officer at Pandora.
“Together we share a common objective to grow the music industry and support artists. We pursued this settlement in order to move the conversation forward and continue to foster a better, collaborative relationship with the labels.”
“Major settlements with SiriusXM and now Pandora means that an iconic generation of artists and the labels that supported them will be paid for the use of their creative works,” said Recording Industry Association of America (RIAA) Chairman & CEO Cary Sherman.
“That is a significant milestone and a big win for the music community.
“We appreciate the collaborative and constructive approach of Pandora’s team in resolving this longstanding issue for artists and labels.”
The settlement provides a nationwide resolution for Pandora’s use of the plaintiffs’ pre-1972 recordings.Music Business Worldwide