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Fly News Breaks for December 17, 2015
P
Dec 17, 2015 | 06:59 EDT
Piper Jaffray James Marsh views the Copyright Royalty Board's new statutory licensing royalty rate per 100 tracks of 17c as favorable for Pandora. Importantly, CRB removed the previously enforced annual step-up of 1c. Marsh tells investors in a research note. Further, the CRB removed any language related to minimum royalty requirements, previously set at 25% of revenue, he adds. The analyst keeps a Neutral rating on Pandora.
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