Pandora expects Apple Net radio play to bolster webcasting at AM/FM's expense

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Issue Date: 
Aug 14 2013 - 1:20pm

From Issue:

Pandora CFO Mike Herring told investors Wednesday he expects Apple's iTunes Radio debut to benefit, not hurt his company's audience... and, as CNet paraphraed, "accelerate the move to [digital radio] from traditional broadcast radio."

"When iHeartRadio launched a couple years ago, we had the same questions," Herring told the Canaccord Genuity Growth Conference. "We've gone from 50% market share to 70% market share, and they've stayed flat... We won't do much different."

CNet does point out, however, that Apple has a huge advantage over Pandora when it comes to global reach. Apple's direct licensing deals with labels and publishers "generally give it rights to the countries where iTunes operates, numbering above 100." Pandora currently operates only in the U.S., Australia, and New Zealand.

Read more in CNet here.

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best part of this post is iHeartRadio launched a couple years ago, we had the same questions," Herring told the Canaccord Genuity Growth Conference.
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