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Pandora loses royalty rate court fight to publisher group BMI

Pandora loses royalty rate court fight to publisher group BMI

Internet radio giant Pandora Media Inc. lost a key legal battle in the decades-long, wide-ranging fight over how musicians and music copyright owners are paid for their work A federal district court in New York on Thursday ruled in favor of BMI — Broadcast Music Inc. — which has a huge roster of popular songwriters including Lady Gaga, Miranda Lambert and Sam Smith. The group had asked the court to raise Pandora's payments to 2.5% of its revenue from 1.75%. The increase probably will boost the amount of money that Pandora pays to BMI by only a few million dollars annually, according to analyst estimates. About half of Pandora’s revenue, which last year was $921...

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