Internet radio webcasters are nearing their "last stand," according to a piece today in the Washington Post. A company like Pandora, which has roughly 1 million daily listeners, pays nearly 70% of their $25 million revenue on royalties -- an arrangement that could force the company out of business, according to the company's founder. "We're approaching a pull-the-plug kind of decision," says founder Tim Westergren. "This is like a last stand for webcasting." While traditional and satellite radio pay far less (and in some cases virtually no) royalties, the Copyright Royalty Board drastically ramped up the costs paid by Internet broadcasters after being pressured by the entertainment industry. Negotiations are still underway, but the Post suggests that things aren't looking good for Internet radio.