“Pandora Media, the largest Internet radio service, has held discussions about selling the company, according to people briefed on the talks,” Leslie Picker and Ben Sisario report for The New York Times. “Pandora is working with Morgan Stanley to meet with potential buyers, said the people, who spoke on condition of anonymity.”
“For Pandora, it would be a curious time to sell,” Picker and Sisario report. “Its shares are yielding a market value of $1.8 billion, down from more than $7 billion two years ago. The stock has fallen more than 60 percent since October.”
“In its financial results, which Pandora announced Thursday afternoon, the company had $336 million in revenue in the fourth quarter, but spent $143 million in ‘content acquisition costs,’ which includes music licenses, and $112.6 million on sales and marketing,” Picker and Sisario report. For the quarter, the company reported a net loss of $19.4 million, in contrast to $12.3 million in net earnings for the same period the year before.””
Read more in the full article here.
MacDailyNews Take: We haven’t listened to Pandora since September 18, 2013, the day Apple launched iTunes Radio.
Pandora sees the writing on the wall.
We haven’t touched Pandora since the day we first launched iTunes Radio. This situation will soon be repeated by millions of iPhone, iPad, iPad mini, iPod touch, Apple TV, Mac, and Windows PC users. The pain looming for Pandora will be intense, especially as it quickly becomes a ghetto for Android settlers who simply do not buy products in the way that Mac and iOS users do. Music labels will take note and act accordingly. — MacDailyNews, September 17, 2013
SEE ALSO:
Apple Music takes a huge bite out of Pandora – October 23, 2015
Apple is going to put the hurt on Pandora – November 10, 2014
Analyst: Apple iTunes Radio hurting Pandora’s ability to attract new listeners – October 26, 2014
Despite critics, Apple’s Maps and iTunes Radio flourish – August 21, 2014
ESPN Radio and local NPR stations now available via Apple’s iTunes Radio – June 10, 2014
Apple’s iTunes Store passes 35 billion songs sold milestone, iTunes Radio now has 40 million listeners – May 29, 2014
Apple preps UK iTunes Radio launch – April 15, 2014
NPR brings live streaming news to Apple’s iTunes Radio, more channels on the way – March 24, 2014
Apple’s iTunes Radio already 3rd most popular music streaming service in USA – March 11, 2014
Parts of Apple’s iTunes Radio service flicker on in Australia, UK, and Canada – January 25, 2014
Pandora loses nearly 2 million active listeners following Apple’s iTunes Radio debut – November 5, 2013
Apple’s Eddy Cue ‘very pleased’ with iTunes Radio, looks to go international ASAP; more than 100 countries targeted – October 4, 2013
Pandora founder: Impact of Apple’s iTunes Radio ‘will be modest on Pandora’ – September 24, 2013
At this pace, iTunes Radio beats Pandora in less than a month – September 24, 2013
Pandora drops as much as 12% on Apple’s iTunes Radio competition – September 23, 2013
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
[Thanks to MacDailyNews Reader “Scott M.” for the heads up.]