Interview with  Peter Jenner on The Register:

So how long can the big labels keep up this charade?

Earlier I was talking about the ground moving underneath the industry. At In The City people are beginning to realise they have to do something. So I think in two or three years blanket licenses will be with us in most countries.

So it’s a fear of losing the distribution channels?

They won’t have any control over distribution. A blanket license is a blanket non-license, really – it’s simply saying “we won’t sue you”. But if you have commercial services exploiting music, we will want to pay you more. You’re licensing the anarchy.

It’s interesting where we’ll end up drawing the line between commercial and non-commercial, but in the end the numbers will be so huge it’ll iron itself out. Someone from England might pull in a lot of hits from Spain – but again, it doesn’t matter. I don’t then worry how they’ll pass the money to each other, but it’ll all come out in the wash.