SONGS, PANDORA MAKE A DEAL

SONGS Music has entered into a direct, multi-year licensing deal with Pandora. The terms of the deal were not disclosed, but both parties say it will provide better royalties for songwriters and greater rate stability and flexibility for the streaming-radio giant. SONGS counts The Weeknd, Lorde and Diplo among its songwriters.

This is only Pandora's second such agreement with a pubco, the first being with Sony/ATV.

Pubco chief Matt Pincus called the deal “a big step forward in a long conversation about fair and equitable compensation for all songwriters and publishers” and hailed “a new chapter.”

For his part, Pandora topper Brian McAndrews said the pact “demonstrates our shared belief that all publishers and songwriters should receive equal treatment,” adding that the deal was “a positive step for the entire industry.”

The two execs then ordered a milkshake with two straws and drank it until they couldn't feel their faces.

Public performance royalties paid by Pandora are not affected by the compact.