![]() ![]() ![]() That's in contrast to Spotify ( and SiriusXM), whose revenue comes primarily from advertising business as opposed to subscriptions. Notably, Pandora invested a lot of time and money in developing its advertising business and setting up regional offices. The Swedish streaming company has 180 million total monthly active users worldwide, with 79 million as subscribers. However, Pandora doesn't have the global reach that Spotify has. Spotify has 55.8 million monthly active users in North America, compared to Pandora's 70 million and SiriusXM's 36 million. SiriusXM is the broadcast home of Howard Stern and host to a new show, beginning this afternoon, from from CNN anchor Chris Cuomo.Īlthough the on-demand streaming service Spotify is most often in the news, in the 18-plus years since its founding, Pandora has remained competitive in the music streaming space. What's changed is my confidence in Pandora as an asset, and that confidence is a result of the progress I've seen in the last 12 months." when we took that position, I assure you, there was no guarantee that any further transaction would get done or that we would end up where we've ended up today. We had a conversation 15 months ago and couldn't reach an agreement on value, quite honestly. "I've been in conversations with Pandora before Roger was there and certainly after Roger's been there. "This is the worst-kept secret of a courtship that's gone on for several years," Meyer said this morning. Just a few weeks after that deal was announced, Pandora co-founder and CEO Tim Westergren stepped down from the company. That move allowed SiriusXM to appoint three executives to Pandora's board, with one serving as chairman. The deal would still need to be reviewed by antitrust regulators and shareholders, he added.Īnd it comes 15 months after SiriusXM invested $480 million in Pandora. The merger would create "the world's largest audio entertainment company," said SiriusXM CEO James Meyer in a conference call on the deal this morning. The deal is expected to close in early 2019. Satellite radio giant SiriusXM is buying the Berkeley, Ca.-based digital radio company Pandora in an all-stock deal valued at $3.5 billion, both companies announced on Monday morning. ![]()
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