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musicFIRST: "Chaffetz Bill A Step Backward."

9-24-2012

It's no surprise that the Record Industry is not in favor of the bill proposed by Congressman Jason Chaffetz on Friday. musicFIRST coalition Executive Director Ted Kalo said, “There’s nothing fair about pampering Pandora, with its $1.8 billion market cap, at the expense of music creators. In 2009, record labels, artists, and Internet radio services, including Pandora Radio, agreed to a fair market rate – the Chaffetz bill would backtrack on that deal."

Kalo went on to say, "Going from a fair market, ‘willing buyer, willing seller’ rate to a government mandated subsidy will break the backs of artists, while Pandora executives pad their pockets. We support rate parity that addresses the greatest inequity of all, the lack of a performance right for terrestrial radio, and is fair to music creators."




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What a joke. This is from the industry that typically paid the artist 1-3% AFTER costs.

The is a great step forward.

- Artist Guy

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