MediaNet

MediaNet Blog

Pandora Acquires Rdio For $75 Million + Your Top Music News

Posted by Glen Sears | November 23, 2015 11:38 am | No Comments

pandora rdio medianet soundcheck

Story of the Week

Pandora Acquires Bankrupt Rdio For $75 Million, Plans Global Expansion
Consolidation in streaming music has begun, though perhaps a bit earlier than expected. Pandora is acquiring “the technology and intellectual property” of streaming music service Rdio for $75 million, and will use the assets to compete with Spotify, Apple Music and others.

The bid comes as Pandora, whose user growth has slowed to just 3%, searches for new avenues of expansion. “We seek to be the definitive source for music discovery and enjoyment globally,” Pandora CEO Brian McAndrews told Variety. The music streamer plans to offer “full on-demand paid subscription” over time. “We plan to substantially broaden our subscription business.”

McAndrews said that Pandora chose Rdio because it had “the best product” in subscription streaming. “We just were really enamored with their product.”
Read more on Hypebot: http://bit.ly/1XmbxV5

Top News Stories

Pandora Didn’t Buy Rdio Because It Was $220m In Debt – “The business was challenged, and financially would have been a drain for us,” Pandora CFO Mike Herring told analysts. The scale of that challenge was revealed overnight in Rdio’s bankruptcy filing. Read More

The Pros And Cons Of Pandora’s Rdio Acquisition – On the surface it seems like a huge positive for the company, but there are also a few potential land mines that come with the deal. Read More

Spotify Claims Users Listen 1.7bn Hours Each Month – The listening statistics closely match those published by Pandora. Once Pandora moves into on-demand in 2016 – licensing deals allowing – the two companies could become fierce rivals. Read More

Bye Bye Beats, So Long Zune – Apple, Microsoft Retire Major Digital Music Brands – Two major digital music brands are being retired. Apple is shuttering its Beats Music service and pushing users to Apple Music; and Microsoft is shuttering one of the original digital music services Zune. Read More

New Board Elected For Digital Rights Group Merlin – North American reps include Epitaph, CV America, Secret City Records, Tommy Boy and the Secretly Group. “[We are] delighted that so many of our members took the opportunity to vote in this election.” Read More

Surprising Discoveries

Adele’s ’25’ Won’t Be On Streaming Services – This is sure to increase 25’s chances of breaking *NSYNC’s record for the biggest first-week sales of the Nielsen/SoundScan era (1991-present). Read More

Robert Sillerman Pulls Third Bid to Buy Back SFX – In a company memo acquired by The Wall Street Journal, he explained that with prices so low ($0.41/share as of Thursday morning), “the time is not right to go forward on this path.” Read More

YouTube To Pay Fees For Some Video Makers To Fight Takedowns – The video giant said on Thursday that it would pick up the legal costs of a handful of video creators that the company thinks are the targets of unfair takedown demands. Read More

RIAA Introduces A Hi-Res Music Logo – The logo, and a definition of what constitutes hi-res, are intended to be displayed by distributors so music consumers will have no confusion over what kind of fidelity to expect. Read More

Curious why all music streaming services aren’t ‘high-definition?’ Read our explanation of the huge infrastructure costs on Medium.

Follow MediaNet! – Facebook | Twitter | LinkedIn | Medium

Have questions about how Medianet can help your digital music business? Ask us here. Want a topic or insight published on this blog? Ask us here. Other questions or comments? Let us know!

No Comments

No comments yet.

Sorry, the comment form is closed at this time.

The MediaNet Blog

Insights, News, Announcements, and Updates on MediaNet and the ever-changing world of music, technology, industry, and law.

Get Weekly Music News Updates Directly To Your Inbox!

Recent posts

SoundCloud Rescued and Installs New CEO, TIDAL Names New CEO Too, Amazon Eyes U.S. Ticketing
August 14, 2017
SoundCloud Speculation Continues, Apple Courting Indian Music Company, Sony Music Has Huge Q1
August 7, 2017
SoundCloud May Have New Equity Deals, YouTube Red Merging with Google Play, SESAC Strikes U.S. Radio Deal
July 31, 2017

Archive

Categories

Powered by WordPress