Pandora is highlighting how much it has paid in music royalties.
The streaming company, which recently noted its 10th anniversary, said it has generated $1.5 billion over that time in royalties for music makers, calling that “a major milestone for ad-supported music streaming.” Pandora, like other streaming services and audio providers, has seen some prominent criticism of how much artists make from its work.
Chairman/CEO Brian McAndrews was quoted in this announcement saying, “It took us nearly nine years to generate the first billion dollars in royalties, and just over a year to increase that total by 50 percent.”
The company said it reached this level “due to joint revenue streams flowing from ad-supported and paying subscribers. The combined income from both sources enabled Pandora to monetize its advertising for the benefit of music makers, while additionally drawing monthly payments from listeners who prefer an ad-free experience.”
