Many, many people have covered this story, but in case you haven’t seen it here, here or here, the Copyright Royalty Board (CRB) has made a significant change in its rate scheme which, if upheld, will result in substantial royalty increases – enough to kill off most Internet music services.
From GigaOM, here’s what Tim Westergren of Pandora had to say:
“Left unchanged, it’s over for us and every other internet radio service, period. Makes it un-viable,” Pandora co-founder Tim Westergren wrote in an email. “We’re staying online because we’re hopeful that sanity will eventually win out. This is a ludicrous ruling.”