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Pandora Reveals How Much It Pays Artists
Responding to critics' claims that musicians make little or no money from being on music-streaming services, Pandora founder Tim Westergren detailed the amount of money certain artists rake in -- some nearing $3 million annually.
Westergren, the company's current chief strategy officer, said Tuesday the "revenue stream is meaningful" and further explained Pandora's philosophy on paying musicians.
"For over two thousand artists, Pandora will pay over $10,000 dollars each over the next 12 months (including one of my favorites, the late jazz pianist Oscar Peterson), and for more than 800 we'll pay over $50,000, more than the income of the average American household," he said in a st…
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More About: Business, Music, celebrities, pandora, streaming music
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