If music execs have their way, music streaming could come to an end in 2016

If music execs have their way, music streaming could come to an end in 2016

Most people think of the Library of Congress as a repository of our nation’s history. But it also runs the powerful Copyright Royalty Board, which is empowered to make critical determinations on royalty rates paid to music companies and musicians.

Needless to say, billions of dollars are at stake and this week the Royalty Board will gather for testimony to review the current pricing structure for music companies and musicians. For popular Internet streaming sites like Pandora and iHeartRadio and the millions of Americans who enjoy getting their music through the Internet, the board’s decision will have a dramatic impact on the future of music.

 

With over 70 million Americans enjoying streaming music, one would think it is a profitable enterprise.

It isn’t.

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