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Professor William Greene comments on the new music royalty rates for Internet radio companies

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Excerpt from WIRED -- "The Copyright Royalty Board is supposed to set fair rates that reflect songs’ hypothetical market value if a truly open marketplace existed. 'The numbers they have chosen in the past have been wildly controversial, but in a world of zero marginal costs, it is difficult to set rates that make obvious sense,' says William Greene, a New York University professor, who researches the economics of the entertainment and media industry. 'The CRB is casting about for a set of numbers that cause as little disruption as possible.'"

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Additional coverage appeared on Slate.