Pandora said in an emailed statement the ruling could increase its content costs as a percentage of revenue by 80 basis points.
“We disagree with the court’s ruling and will appeal to the same court that ruled in Pandora’s favor in the ASCAP case last week. We strongly believe the benchmarks cited by the court do not provide an appropriate competitive foundation for a market rate,” Pandora said in the email.
Source: Pandora to appeal court ruling that gives BMI higher royalties | Reuters