Royalty's for internet vs satellite radio

Tyler/Charles please help answer this!

$42M 1q 08 to $100M 1q 09 how much is ROYALTY vs REV sharing? I still am completly confused how Pandora Payed $17M in royalty’s in 2008???? If Internet royalty’s are higher then SIRIXM AND Slandora plays MORE music per hr then SIRIXM (skips,automated, and who knows how many individual channels per listner) How the $$^$#^%$#^%$#!^ is it only $17M YES it is much higher % vs total REV ($25M) but with Pandora expecting $40M in Rev in 2010 it is beyond me how royalties are not 3X that #?????

Please help me get my arms around ROYALTY's for internet vs sat radio!!! :)

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Originally Posted by LIBOR/TED SPREAD

Tyler/Charles please help answer this!

$42M 1q 08 to $100M 1q 09 how much is ROYALTY vs REV sharing? I still am completly confused how Pandora Payed $17M in royalty’s in 2008???? If Internet royalty’s are higher then SIRIXM AND Slandora plays MORE music per hr then SIRIXM (skips,automated, and who knows how many individual channels per listner) How the $$^$#^%$#^%$#!^ is it only $17M YES it is much higher % vs total REV ($25M) but with Pandora expecting $40M in Rev in 2010 it is beyond me how royalties are not 3X that #?????

Please help me get my arms around ROYALTY's for internet vs sat radio!!! :)

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The royalty rate for Internet radio is the same for various companies. It is actually more expensive for Sirius XM if you listen on the net instead of from the satellite feed.

Sirius XM lumps all royalties and revenue sahe into one bucket. These coststs include:

1 - Royalties for internet feed

2 - Royalties for satellite feed

3 - Revenue share for deals such as the OEM's