MUST WE REITERATE: WE LOVE PANDORA RADIO!!!

"I do think record labels are going to change dramatically. I don't think you're going to recognize them five years from now. I think they will no longer be in the business of recruiting and developing new artists. They're going to be in the business of exploiting their existing catalog. Artist development will be taken up by a cottage industry of entrepreneurs and do-it-yourself artists and managers that will take advantage of all these tools that are available now for free over the Web."

He also shinned some light on that annoying "Are You Still Listening" message that pops up on Pandora every once in a while. ..

"Pandora operates under what's called a statutory license. A federal law called the Digital Millennium Copyright Act governs our industry. Following the DMCA, we pay what's called a performance fee, which is a per-song fee that goes to the performers of the songs. It's actually split half to musicians and half to the record label."

Aaaaahhh, so you do actually pay the artists whose songs are played on Pandora. And keep the tunes coming to us for free. That's what's up!