Pandora was struck a blow on Wednesday when a rate court ruled that the Internet radio leader doesn’t have a blanket license that includes the songs of publishers who have withdrawn their digital rights.
The future of the publishing industry in the digital age has ping-ponged this year between market rate negotiations, rate court rulings and consent decrees that predate digital disruption by more than a half century. And it’s now clear that back and forth will continue well into next year, as stake holders maneuver to be in the right position when the ball finally stops bouncing -- if it ever does.
The Warner Music group posted a $57 million net loss on revenue of $764 million for the quarter ending Sept. 30. That represented an increase of 4.5% from $731 million in revenue during the corresponding quarter of the prior year, thanks largely to the addition of Parlophone Records. The company's net loss widened to $57 million from $18 million in the prior period.
Warner/Chappell Music has named veteran publishing executive Jon Platt as its new president, North America, it has been announced. Platt will report directly to Warner/Chappel Music chairman/CEO Cameron Strang and will continue to be based in Los Angeles.