Pandora gives up on law to reform music royalty rates

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Streaming site Pandora has quietly given up its campaign to get Congress to pass the Internet Radio Fairness Act, a law that would have put online radio services on a more equal footing with AM/FM and satellite stations when it comes to licensing song rights.

“We are pragmatic and recognize the low probability that Congress will address this issue in the near term,” Pandora CEO Tim Westergren said in a statement.

The decision is being hailed as a victory by the music industry, which has waged a high profile campaign against the law, and where some have blamed streaming services like Pandora for a decline in their income.

Permalink – GigaOm.com.

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