Pandora pony up for pre-72 recordings

Before 1972, recorded music in America wasn't "protected" by copyright. Some streaming services have been taking advantage of this to stream vintage tracks without feeling the need to pay for the rights.

The RIAA wasn't happy about this, and so threatened Pandora with court to demand payment.

Before it came to this, Pandora was bullish:

In response, Pandora issued a statement to The Hollywood Reporter: "Pandora is confident in its legal position and looks forward to a quick resolution of this matter."

The resolution was pretty quick, but, erm not in Pandora's favour:

Pandora Media Inc. will pay $90 million to record labels to settle a dispute over oldies, the Internet radio giant said Thursday.

The agreement with the group of labels -- composed of Sony Music Entertainment, Universal Music Group, Warner Music Group, Capitol Records and ABKCO Music & Records -- resolves yet another major battle over royalties for recordings made before 1972.

So, are Pandora upset? Apparently not. Oh, no. This is, honestly, the outcome they were hoping for:

Pandora Chief Executive Brian McAndrews, in statement, said the company was "excited" to have the dispute resolved. "We pursued this settlement in order to move the conversation forward and continue to foster a better, collaborative relationship with the labels," he said.

Yeah. Thank god, eh? All they wanted to was make a massive payment and knock a fifth off their share price. That was all Pandora ever wanted. All they asked for. They're excited. Real excited.