Pandora drops as much as 12% on Apple’s iTunes Radio competition

“Pandora Media Inc. (P), the biggest Web radio service, fell as much as 12 percent after Apple Inc. (AAPL) said it attracted more than 11 million unique listeners to the new iTunes Radio service,” Rob Golum reports for Bloomberg News.

“Pandora, with 72 million active listeners, slid to $23.99 at 11:35 a.m. in New York after falling as low as $23.77 intraday,” Golum reports. “Apple, based in Cupertino, California, rose 4.4 percent to $487.96 after reaching $496.91 intraday.”

Read more in the full article here.

MacDailyNews Take: Pandora Media Inc., “the biggest Web radio service.”

Enjoy that description while you can, Pandora.

Related articles:
Apple releases iTunes 11.1 with iTunes Radio – September 18, 2013
Pandora: iTunes Radio roadkill – September 17, 2013
Apple’s iTunes Radio is going to put Pandora into a world of hurt – September 14, 2013
Anticipating customer surprise, Apple begins training support staff on iOS 7 and iTunes Radio – August 29, 2013
Pandora would be wise not to write-off Apple’s potent iTunes Radio – August 26, 2013
Apple’s iTunes Radio to debut in September with McDonald’s, Nissan, P&G, Pepsi sponsorships – August 21, 2013
Apple’s new iTunes Radio is designed to be the largest streaming radio service – July 13, 2013
Apple announces iTunes Radio – launches this fall – June 10, 2013

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