PANDORA & WARNER/CHAPPELL INK DIRECT DEAL

Pandora and Warner/Chappell have signed a multi-year licensing pact for the pubco’s catalog. According to this morning’s announcement, the companies worked together to build an innovative approach to publisher economics, and the resulting agreement creates business benefits for Pandora, while modernizing compensation for WCM and its writers in the U.S.

“It is Warner/Chappell’s top priority to make sure our songwriters are prospering both creatively and commercially, and that the value of their music is properly recognized,” said CEO Big Jon Platt. “We look forward to seeing our songwriters benefit from this new agreement with Pandora.”

Stated Brian McAndrews, Platt’s counterpart at Pandora’s “We are thrilled to partner with Warner/Chappell Music, which has represented many of the most talented songwriters for over 200 years. Pandora is proud to be part of their tradition of maximizing the value of music publishing and talent.”

While specific terms of the agreement are confidential, the deal enables WCM to deliver improved performance royalties for its songwriters, while Pandora will benefit from what’s described as “greater rate certainty and the ability to add new flexibility to the company's product offering over time.”