Pandora On The Rise

Pandora Media inked its second licensing deal in a week just in advance of an expected decision from the US Copyright Royalty Board rate-setting group.

Pandora announced on Tuesday that it reached a multi-year licensing arrangement with Warner/Chappell Music, the publishing arm of major label Warner Music Group.

With that news out, Pandora stock rose 4.9% in the stock market today, closing at 13.06.

"This direct publishing deal creates business benefits for Pandora, while modernizing compensation for Warner/Chappell Music and its songwriters in the U.S.," a statement from Pandora said.

Last week, Pandora announced that it had signed a multi-year licensing deal with the largest independent music publisher, SONGS Music Publishing. No further details have been disclosed, but Stifel analyst John Egbert said that both the SONGS Music and Warner/Chappell deals permit Pandora to license those companies' catalog of musical works for possible listening outside of the U.S., where Pandora wants to grow.

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