"Many webcasters say the sharply higher royalty fees will put them out of business. Talk of the ruling dominated a one-day meeting of Internet radio broadcasters being held in Las Vegas alongside the annual conference of the National Association of Broadcasters, a group representing local radio and TV stations.
N. Mark Lam, the CEO of Live365 Inc., a privately held company that aggregates audio streams from thousands of radio stations and other small webcasters, said that under the new royalty rules, 'there is no industry.'
Lam, who joined the venture capital-backed company about two years ago, said Live365 just barely broke even last year and had about 4.5 million unique listeners every month."
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