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RAIN 6/20: Triton Media COO suggests 5%-of-revenue music royalty for both on-air, online by 2021

Posted on: 06/20/2011

AGOVINO WRITES IN TECHCRUNCH THAT RADIO AND MUSIC INDUSTRIESHEALTH AT STAKE

Taking into account both the growing costs to broadcasters of streaming radio online and the music industry’s need to derive revenue from the use of music (and rely less on the sale of music), Triton Media COO Mike Agovino suggests, “The future for both (industries) is better together than apart.”

The crux of Agovino’s suggestion is a royalty for on-air radio starting at 1% of revenue and growing to 5% over the next 10 years. Simultaneously, radio will pay 25% of revenue for the use of streaming music [we’re assuming he means streaming revenue here with regards to broadcasters], which will fall to 5% over the next 10 years. Then, in 2021, “an all-in, 5% revenue share across the board in 2021 would allow broadcasters to anticipate and structure accordingly while also allowing the labels to bring in hundreds of millions of dollars today and billions in revenue over time,” Agovino writes. “On the flip side it would let the labels participate in a meaningful way while not preventing broadcasters from building a profitable online business.”

As radio listeners continue to adopt online technology, radio needs to be “where and how the audience wants them. Radio and record labels need to find business models that build value for both industries in this new world,” writes Agovino.

Read Agovino’s entire column in TechCrunch here.

WSJ REPORTS ON NEW TECH OFFERINGS AT NY JAZZ AND CLASSICAL STATIONS

Two New York-based listener-supported radio stations seem to be outpacing most other broadcasters at adopting to new digital platforms and tools. And they’re not stations targeted to tech-savvy youngsters, either.

Classical WQXR and Jazz WBGO “are embracing digital tools to position themselves as thriving multi-platform hubs,” writes The Wall Street Journal today, “fueled by live-streamed performances, HD broadcasting, social media and mobile applications.”

Both stations are also embracing online video to enhance their web presence, and both are offering side programming (either via HD or online streaming) to widen the musical choice available to listeners.

“And it’s not a moment too soon: As jazz and classical are increasingly abandoned by commercial radio, embracing digitization supports the music and expands their artistic communities,” writes The Journal’s Pia Catton.

Wall Street Journal subscribers can read this entire article here.

OAKLAND HOPES PANDORA IPO MEANS GROWTH FOR DOWNTOWN TOO

As most RAIN readers understandably view recent Pandora news through the lens of the digital economy or the broadcast industry, The Oakland Tribune has an interesting local perspective. Minute-by-minute stock price changes aside, “the Internet radio company likely will be a long-term boon for the city.”

Pandora’s growth means more jobs and more people, which can drive growth to restaurant/nightlife segments, the market for housing, and more. “They can absolutely transform downtown Oakland,” said Walter Cohen, director of the city’s Community and Economic Development Agency.

Read more from The Oakland Tribune here.



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