Executives at Pandora have responded to the recent statement issued by Roger Waters, David Gilmour and Nick Mason of Pink Floyd, criticizing the proposed reductions in payouts to both artists and songwriters that were made by the company.
Pandora is disputing the veteran rockers' allegation that the company is looking for an 85% cut in what they pay to the creative artists who make the music they stream.
The following is their statement as originally published in the Huffington Post.
We have enormous respect for the members of Pink Floyd, and their amazing artistic contributions. We also respect the genuineness of their opinion. Unfortunately, they have been given badly misleading information – the result of a well-orchestrated campaign by the RIAA and their lobbying arm to mislead and agitate artists. A glaring example is the assertion that Pandora supports an “85 percent artist pay cut.ʺ That is simply not true. We never, nor would we ever, support such a thing. In fact, Pandora has suggested solutions that would guarantee no reduction in artist payouts while also nurturing the growth of internet radio -- a medium that is crucial to thousands of independent musicians who don’t enjoy major label support or FM radio exposure.
This much is true: Pandora is by far the highest paying form of radio in the world and proudly pays both songwriters and performers. For perspective, to reach the exact same audience, Pandora currently pays over 4.5 times more in total royalties than broadcast radio for the same song. In fact, at only 7 percent of U.S. radio listening, Pandora pays more in performance royalties than any other form of radio.