Personal radio service Pandora would like the debate around its next set of royalty negotiations to be driven by a vision of big bad licensing commitments strangling the company’s survival prospects. We’re seeing a rise in opponents characterising it as more big bad Pandora trying to screw music artists though. Witness this in-stage zinger from Live Nation’s Irving Azoff at a media conference: “It’s horseshit. The market cap for Pandora is like $1.8 billion. That’s roughly the market cap of Live Nation, and they are whining about wanting to pay artists less.” Spotify has become the favourite whipping boy in arguments over digital payouts, but Pandora faces a real risk of joining it in the stocks as it seeks to reduce its licensing burdens.