Copyright Royalty Board Increases Rates for Webcasters

A panel of federal judges increased the royalty that free Internet radio services like Pandora will pay record companies for the next five years, a decision that has been closely watched in the music industry and on Wall Street. According to a summary of the decision posted by the panel, the Copyright Royalty Board, Pandora and other webcasters like it will have to pay record companies 17 cents for every 100 times they play a song when they stream music to listeners who do not pay for subscriptions. The current rate is 14 cents.