albert fried

Stock analyst calls out music industry for its treatment of Pandora

Wednesday, February 27, 2013 - 12:20pm

Yesterday Albert Fried & Company analyst Rich Tullo appeared on CNBC to discuss the news that record label sales were up last year for the first time since 1999. He used the opportunity to criticize the music industry and its treatment of music services like Pandora -- especially in regards to licensing and royalties.

"The industry is fighting the Pandoras and Spotifys," Tullo told CNBC. Tullo pledged his company "will help (Pandora) in Congress if called upon -- we do have certain beliefs about Internet radio freedom, and how it can be an ultimate good for the industry if the music producers top fighting change."

Pandora and other webcasters support the Internet Radio Fairness Act (more here), designed to make the Internet radio royalties more equitable by bringing the royalty rate determination process in line with those for other non-interactive digital music use (like satellite radio). The recording industry is in staunch opposition to the bill.

Watch video of Tullo's CNBC appearance here.

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