Senate Judiciary Committee Approves PROTECT IP Act

Senate Judiciary Committee Approves PROTECT IP Act

Senate Judiciary Committee Approves PROTECT IP Act
The U.S. Senate Judiciary Committee has unanimously voted to approve the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act, S. 968, a bill designed to crack down on rogue websites dedicated to copyright infringement and the sale of counterfeited goods. Key provisions of the PROTECT IP Act include a specific narrow definition of rogue websites and providing authorization to the attorney general and rights holders to bring actions against rogue websites. The bill is sponsored by Senate Judiciary Committee Chairman Patrick Leahy (D-Vt.) and Sens. Chuck Grassley (R-Iowa) and Orrin Hatch (R-Utah). "Copyright infringement and the sale of counterfeit goods can cost American businesses billions of dollars, and result in hundreds of thousands of lost jobs," said Leahy. "Protecting intellectual property is not uniquely a Democratic or Republican priority — it is a bipartisan priority." (5/27)

Pandora Posts Gains, Sony Music Revenue Down
Internet radio service Pandora announced it reached 94 million registered users at the end of the first quarter of 2011, up 77 percent from the same period last year. Total revenue reached $51 million, up 136 percent from the prior-year quarter, while listening hours grew 129 percent to 1.6 billion. Active users increased 89 percent to 29 million. In related news, Sony Corporation's music division, which includes Sony Music Entertainment, Sony Music Entertainment Japan and a 50 percent stake in Sony/ATV Music Publishing, reported a 9 percent year-over-year sales decrease to $5.67 billion for the fiscal year ending March 31. The company attributed part of the decline to strong sales experienced after the death of Michael Jackson in 2009. (5/27)

Internet Ad Revenue Up
Internet advertising revenue across websites, commercial online services and free email providers totaled a record $7.3 billion in the first quarter of 2011, up 23 percent from the same period last year, according to data released by the Interactive Advertising Bureau and PricewaterhouseCoopers. The rise demonstrates the continued growth of online advertising revenue, which totaled a record $26 billion in 2010. (5/27)
 

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