Music body the Performing Rights Society has locked the stable door after the streaming sites have bolted, by dropping its licensing fee. Whether this will be enough to entice the likes of YouTube and Pandora back to the paddock remains to be seen.
The price of a streamed track has plummeted from 0.22p to 0.085p to "enable the digital market to grow". YouTube objected so strenuously to the previous rate that it pulled official music videos back in March. Pandora bailed out of Blighty in 2008.
This comes just days after our own Ian Morris was hating on YouTube. If decent-quality music videos do return, it'll no doubt do wonders for Ian's blood pressure, if not our productivity as a nation.
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