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Businesses

Submission + - Pandora Shares Artist Payment Figures (pandora.com)

An anonymous reader writes: Today in a blog post, Pandora has shared some details of the fees they pay to musical artists for playing songs over their music streaming service. Over 2,000 different artists pull in $10,000 or more in the next year, and 800 will get paid over $50,000. They provided a few specific examples as well. Grupo Bryndis, who has a sales rank on Amazon of 183,187, is on track to receive $114,192. A few earners are getting over $1 million annually, such as Coldplay and Adele. 'Drake and Lil Wayne are fast approaching a $3 million annual rate each.' The post segues into a broader point about the age of internet radio: 'It's hard to look at these numbers and not see that internet radio presents an incredible opportunity to build a better future for artists. Not only is it bringing tens of millions of listeners back to music, across hundreds of genres, but it is also enabling musicians to earn a living. It's also hard to look at these numbers, knowing Pandora accounts for just 6.5% of radio listening in the U.S., and not come away thinking something is wrong. ... Congress must stop the discrimination against internet radio and allow it to operate on a level playing field, under the same rules as other forms of digital radio.'
Businesses

Submission + - Mysterious Algorithm Was 4% of Trading Activity Last Week (cnbc.com) 1

concealment writes: "A single mysterious computer program that placed orders — and then subsequently canceled them — made up 4 percent of all quote traffic in the U.S. stock market last week, according to the top tracker of high-frequency trading activity. The motive of the algorithm is still unclear.

The program placed orders in 25-millisecond bursts involving about 500 stocks, according to Nanex, a market data firm. The algorithm never executed a single trade, and it abruptly ended at about 10:30 a.m. ET Friday."

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