Pandora's ASCAP Rate Set At 1.85% For 5 Years

Law360, New York (March 14, 2014, 6:26 PM EDT) -- A federal judge ruled Friday that Internet radio giant Pandora would pay 1.85 percent of its revenue for the next five years for the right to stream songs held by American Society of Composers, Authors and Publishers, or ASCAP.

U.S. District Judge Denise Cote's rate was a bit higher than the 1.7 percent yearly rate that Pandora had requested for the five-year blanket license from 2011 to 2015, but significantly lower than the “escalating” rates ASCAP wanted, which would have gradually reached 3 percent.

ASCAP was...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.