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Musicians and the popular Internet radio giant pandora are locked in a fight over cash pandora is a service which -- songs have nearly every genre.
Free of charge to listeners that -- the songs based on user feedback.
You cannot download the tunes that you can listen for as long as you want to the streaming radio with the occasional cool commercial interruption thrown in the next.
Pandora made more than 234.
Million dollars in its initial public offering a couple of years ago.
And it shares have been surging just this week closing out in the green again today.
But recently pandora began pushing for congress to lower the amount of web royalties that it's required to pay artists.
Now those musicians are pushing back -- at such joins us now he's in Washington some.
Big names are getting involved branch.
-- music legends are surviving members of Pink Floyd right in USA today that.
We hope that many online and mobile music services can give fans and artists the music they want when they want it at price points that work.
But those same service issued fairly pay the artists and creators who make the music at the core of their businesses they say this effort in congress would give musicians a steep pay cut Harris.
So how does pandora -- not paying what it so.
Well you know pandora says it spent more than half its revenue last year on song royalties that's compared to 9% for satellite radio.
Lawmakers backing the changing music royalty say they're simply bringing Internet radio -- -- the same process satellite and cable music services use to set their royalty rates.
Not about pandora it's about opening up both the the field so there can be more viable Internet radio stations and create a win for artists because.
When they listen to a song on Internet radio they get paid.
Congressman shape it says he's hoping to introduce his bill in the next couple of months back to you.
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