This is something that Altavoz takes very seriously and knows that compensating creators is where you start in Art.
Pandora’s Harrison may soon be asking “Brother can you spare a trillion?”
Did Pandora’s legal eagle Chris Harrison create a trillion dollar hole in Pandora’s balance sheet?
Last month’s earnings report by Pandora was interesting in many ways. But the most interesting thing about it was what was not mentioned. The stunning omission of potential liabilities associated with Pandora’s refusal to pay royalties on pre-1972 sound recordings.
Under the leadership of Chris Harrison, Pandora’s legal team has adopted a bizarre interpretation of federal copyright law that in essence argues that pre-1972 sound recordings were not federalized. As a result Pandora is not paying royalties to performers on recordings made before 1972. This is potentially a significant amount of revenue for the money losing company. (Pandora trumpets Non-GAAP “profits”, or “Non Generally Accepted Accounting Principals” calculations of profit. Or as prefer here at the Trichordist “Unicorn Dollars”).
While Sirius and…
View original post 758 more words