Rdio Launches Free Service on Mobile Apps; Pandora (P) Shares React (AAPL) (GOOG)
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Pandora Media (NYSE: P) is on watch Thursday as peer Rdio has launched a free mobile service.
Reports have Rdio (pronounced AR-dee-oh!) bringing the free service to the U.S., Canada, and Australia today. The company and Cumulus Media (Nasdaq: CMLS) are in cahoots over the launch.
The streaming radio app from Rdio will be available on Google (Nasdaq: GOOG) Android and Apple (Nasdaq: AAPL) iOS at the start. It wasn't made clear whether an app for BlackBerry (Nasdaq: BBRY) BB10 or Microsoft's (Nasdaq: MSFT) Windows Phone 8 will be made available sometime in the future.
Users will be able to listen to songs that are randomly picked with having to hear any ads, regardless of artist, genre, song, or album. Rdio hopes that users wanting a little more control over selections will sign up for the $10-per-month subscription.
For Pandora, that means one more streaming radio service feature to overcome. The company was put front and center a few weeks back when Apple announced the launch of iTunes Radio, which would have immediate access to its user base which is nearing the mid-hundreds of millions at this point. Pandora shares, having priced in the news for about one year, were largely unchanged, though analysts suspect that the full impact of iTunes Radio has yet to be seen. A better picture might be gotten by the end of October, or possibly into early 2014.
Shares of Pandora are down 0.5 percent.
Reports have Rdio (pronounced AR-dee-oh!) bringing the free service to the U.S., Canada, and Australia today. The company and Cumulus Media (Nasdaq: CMLS) are in cahoots over the launch.
The streaming radio app from Rdio will be available on Google (Nasdaq: GOOG) Android and Apple (Nasdaq: AAPL) iOS at the start. It wasn't made clear whether an app for BlackBerry (Nasdaq: BBRY) BB10 or Microsoft's (Nasdaq: MSFT) Windows Phone 8 will be made available sometime in the future.
Users will be able to listen to songs that are randomly picked with having to hear any ads, regardless of artist, genre, song, or album. Rdio hopes that users wanting a little more control over selections will sign up for the $10-per-month subscription.
For Pandora, that means one more streaming radio service feature to overcome. The company was put front and center a few weeks back when Apple announced the launch of iTunes Radio, which would have immediate access to its user base which is nearing the mid-hundreds of millions at this point. Pandora shares, having priced in the news for about one year, were largely unchanged, though analysts suspect that the full impact of iTunes Radio has yet to be seen. A better picture might be gotten by the end of October, or possibly into early 2014.
Shares of Pandora are down 0.5 percent.
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