This is just sickening...Thank you, ASCAP for posting this info... PANDORA MAKES A HUGE PROFIT OFF OF SONGWRITERS: Pandora, a Wall Street-traded company, reported revenue of $126 million in May 2013 for its first quarter alone. ASCAP is a nonprofit membership organization that collects and distributes royalties to the more than 460,000 independent songwriters, composers and music publishers it represents. Every 1,000 plays of a song on Pandora is worth about 8 cents in performance rights for the songwriters and composers ($0.00008 per stream). To put that in context, Miranda Lambert’s hit song “The House that Built Me” was streamed on Pandora nearly 22 million times, earning its songwriters and publishers roughly $1,788.48. Co-writer Allen Shamblin received only $894.14. Lady Antebellum’s 2011 Grammy-winning Song of the Year “Need You Now” was streamed nearly 72 million times on Pandora, earning its four songwriters and publishers $5,918.28. Co-writer Josh Kear received only $1,479.57. In 2012, Pandora founder Tim Westergren cashed out $9.9 million in stock options – more than the $7.6 million the company paid in total licensing fees split among all ASCAP members that same year.
Posted on: Sat, 22 Jun 2013 00:54:54 +0000
Trending Topics
Recently Viewed Topics
© 2015