[alphamale3000]

1 million plays on Pandora is like one play on FM radio with an audience of 1 million, or 10 plays with an audience of 100,000. Either way, their royalties are more expensive than ones of radio stations.

Pandora just bought an FM radio station in an effort to reduce its royalty rates. http://www.engadget.com/2013/06/11/pandora-buys-fm-radio-sta...