Pandora has finalized direct licensing agreements for recorded music with Merlin Network, Sony Music, and Universal Music Group, along with The Orchard and over 30 other independent labels and distributors.
CEO Tim Westergren said, “This was a truly collaborative attempt to find a solution that would support artists while profitably growing our respective businesses. And that is exactly what we achieved. Working together, we can reshape the digital music market and grow a great business that provides tremendous value to the music industry for decades to come.”
The newly signed music companies join ASCAP, BMI, and more than 2,700 publishers who also recently partnered with Pandora to license their full catalogs for use on the company’s upcoming products, ensuring a steady new stream of income to recording artists and songwriters alike. Pandora executives will host a conference call on this topic this morning at 8:15 AM (ET).
