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Barring a last-minute industry compromise, new royalty rates--which Internet radio operators argue could cripple their services--are slated to kick in Sunday.
New letter to Congress from Yahoo, RealNetworks, Pandora and Live365 execs urges politicos to reconsider new rules they argue would require not only higher royalty rates on songs, but more than $1 billion in annual "administrative" fees.
Large and small Internet radio operators and National Public Radio file for an emergency stay to the new rules, scheduled to take effect July 15.
Music labels plan to meet Tuesday to discuss plans to oppose bill designed to cut Webcasting royalty rates, CNET has learned. Meanwhile, Pandora is forming new alliances in effort to see bill passed.
The milestone reflects the industry expansion and growing popularity of Internet radio and other digital music services.
iTunes Radio launched with a splash, and is poised to roll out across the globe. So where does that leave Pandora?
Pandora's stock price dropped more than 20 percent this evening after the company reported a weak forecast for the current quarter.
In a letter to Congress, the civil rights group asks that lawmakers vote no on legislation designed to cut the rates paid by Pandora and other Webcasters to artists -- some of whom are elderly Motown performers who weren't compensated fairly for their original work.
Music industry group that collects royalty payments has offered a compromise, but it's unclear whether it will go far enough to please disgruntled Webcasters.