“Pandora Media Inc can continue to dominate in Web-based music, Chief Financial Officer Mike Herring said, even as rivals like Apple Inc. and Beats Electronics LLC join forces,” Anthony Palazzo reports for Bloomberg.
“Apple, owner of the iTunes Store, and Beats, which started a streaming-music service this year, are already competitors, Herring said today at the Bloomberg CFO Conference in New York. Their talks to combine in a reported $3.2 billion deal are a recognition of the ‘huge’ opportunity in online music, Herring said,” Palazzo reports. “‘People are trying to figure it out,’ Herring said. ‘We’ve done the best job to date and we think we can extend that lead.'”
“Apple is close to a deal to acquire Beats, people with knowledge of the situation said this month. Streaming services that have emerged have been unable to challenge Pandora, the biggest player in Web-based radio, Herring said,” Palazzo reports. “‘Almost every one has failed spectacularly,’ he said.”
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MacDailyNews Take: Mikey is whistling past the graveyard.
In the past year, Apple deposited more money into their couch cushions than Pandora will ever be worth.
As MacDailyNews already posited, Walter Isaacson thinks maybe Jimmy Iovine will run Apple’s content business – May 20, 2014
Apple could become most powerful record label in the world with Dr Dre, Jimmy Iovine onboard – May 13, 2014
Apple wants Beats for Jimmy Iovine, not bad headphones or an untested streaming music service – May 9, 2014