but very poorly from pandora they pay royalty rates of fraction of what we get from spotify and apple musec. the more we can shift into a subscription services the more the song writers or the labels could make of living with streaming but if we your stock with a statutory license under pandora, i will give you an example, youtube has billions of streams every year and they have paid less than what the current from the sale of the records the largest on demand streaming service in the world serving 100 million in the united states we earn less from youtube and the others then from the sale of vinyl records. something is wrong. >> i want to bounce back to the congressional in goal you set it is tall order and it is not worth trying. >> it is worth trying. >> yes. excuse me. what if that does not pan out? what if it takes 20 years to get to fruition? what do you do? are there private agreements to move the ball in the interim? but if we can't get that over the finish line what does that do? >> then we cobble together private sector solutions. there were issues of royalties of reproductions of

radio guy you can stream like the internet radio station like pandora or old debated on spotify or apple musec you can do it on ruble -- mobil or individual albums the variety of ways is astounding. >> host: but that transition from ted years ago to what we go to day, what has that done to the music industry? >> guest: it has caused a lot of difficulty. the fact of the matter is the transition has operated relatively smoothly if you consider we are 75% digital. with an extraordinary transition. but there are bumps in the road as to figure out what is necessary to license the download service or the streaming service or how do the contracts applied. how