Sunday, August 17, 2008

Pandora - not even much hope left, either

The music industry will be delighted with itself today; it's greedy attempt to push up rates for web broadcasting has almost completed the total destruction of the legal channel in the US. Pandora is about the throw in the towel:

"We're approaching a pull-the-plug kind of decision," said Tim Westergren, who founded Pandora. "This is like a last stand for webcasting."
Westergren, seemingly wearied by the constant haggling over the issue, signaled that Pandora's investors may also be impatient for an end.

"We're funded by venture capital," he said. "They're not going to chase a company whose business model has been broken. So if it doesn't feel like its headed towards a solution, we're done."

It's not entirely clear how the music industry believes throttling a new way of reaching customers is in its best interests.

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