Newswire: Pandora CFO wants to pay lower royalties, says iTunes “eviscerated” the music industry

Pandora CFO Mike Herring has an idea about what’s wrong with the music industry, and he’s pretty sure it’s not Pandora or most of the music-streaming sites like it. Herring places that blame squarely on the turtleneck-wearing shoulders of Steve Jobs, declaring that he “eviscerated the music industry with the launch of iTunes.” That comes from Billboard, which reported from a conference call Herring gave with investors about the future of Pandora. Herring didn’t really explain what he meant by the Steve Jobs comment, but he did add that “the download was supposed to save [the music industry]” but didn’t, so now it has fallen to streaming services like Pandora to pull music out of the hole that iTunes put it in.

Herring even has a plan for how to do this: He wants to pay artists and record labels even less money in royalties …

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