LOS ANGELES (AP) -- A federal judge in New York has left the rate that Pandora must pay songwriters unchanged at 1.85 percent of revenue for the next two years.
That's according to ASCAP -- the American Society of Composers, Authors, and Publishers -- which collects royalties for some 500,000 artists and publishers in the U.S.
ASCAP says Judge Denise Cote of the U.S. District Court in New York made the ruling Friday. Court filings show her order and opinion was filed under seal.
ASCAP Chief Executive John LoFrumento said in a statement that the market rate for Internet radio is substantially higher than 1.85 percent and said the ruling demonstrates the need for regulatory reform.
Pandora Media Inc. declined to comment until the ruling is publicly released, which could occur next week.