I completely disagree with you about them being revolutionary, but that's besides the point. If we assume that their business model is no different than any oth

I completely disagree with you about them being revolutionary, but that's besides the point. If we assume that their business model is no different than any other radio station, then why should they be charged 10 times as much (70% vs. 7% of revenue being paid in royalties, as cited in a comment above)? Given that information, they are a radio station with millions and millions of listeners. Musicians and labels ought to be fighting to get on Pandora. The likelihood of you becoming interested in an artist and purchasing a record, merchandise, or concert tickets is magnitudes higher than traditional radio, and much more accessible, since you are already on your computer. The fact that Pandora is struggling to "survive" is fucked and is a sad consequence of obsolete legislation that is inevitably subject to change. It doesn't take a genius to see that the old style of radio is dying and that newer, more relevant services are on their way in. Pandora is currently the leader in this market. Would I invest in them? Hell yes. Read "Remix" by Larry Lessig for more insight into the legislation behind modern media: http://remix.lessig.org/ http://remix.lessig.org/