Pandora Inks Licensing Agreement With Songs Music Publishing

Pandora said it signed a multiyear licensing agreement with independent publisher Songs Music Publishing to cover Songs' entire music catalog. Pandora didn't disclose the specific terms of the agreement but said Tuesday it “allows SONGS to obtain its goal of delivering improved performance royalties for its songwriters while Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company's product offering over time.” The licensing agreement “creates business benefits for Pandora, while modernizing and equalizing compensation for SONGS and its songwriters in the U.S.,” Pandora said. “Now is the time to move past the over-regulation of songwriter rights and towards a market-based approach to streaming music,” said Songs CEO Matt Pincus in a Pandora news release. “This agreement is a big step forward in a long conversation about fair and equitable compensation for all songwriters and publishers.”