Earlier this month I blogged about a Copyright Board decision on commercial radio royalty rates that represented a big win for the collectives and a big loss for commercial radio stations. How big? Today Corus Entertainment, one of Canada's leading radio networks, announced that the new royalty rates will cost the company $2.6 million in 2005 alone. Corus CEO John Cassadday claims that the lost revenue will result in job layoffs at a company that employs 15 percent of the Canadian radio industry.
Corus on the Cost of Copyright
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MORE ads LESS ROCK!
OH, waaah!
My first reaction was “oh, boo hoo”. Companies need to get off their duff and realize that profits aren’t some god-given right.
So, you made 71 million profit this year. If you do nothing differently, you’ll make, what, 69 million PROFIT next year?
Suck it up princess.
Now, the fact that the money that’s being collected may or may not end up in it’s target audiences hands? That’s a completely different story, one that doesn’t have anything to do with Corus or anyone else…