Pandora (P) on Watch as TiVo (TIVO) Throws New Competition into the Mix (GOOG) (NFLX)
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Pandora Media Inc. (NYSE: P) shares are on watch today following an announcement by TiVo, Inc. (Nasdaq: TIVO) earlier.
TiVo said it was adding music streaming service Spotify to its TiVo Premiere boxes in the US. Now, in addition to Pandora fighting for time with the likes of Netflix (Nasdaq: NFLX) and Google's (Nasdaq: GOOG) YouTube, it will need to go up against a very formidable competitor.
This news isn't going to shake investors as Pandora is on many more devices throughout the U.S. However, as some consumer electronic manufacturers and service providers look to diversify content to make it more appealing, investors might want to keep an eye out for similar developments.
Shares are higher early Tuesday.
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TiVo said it was adding music streaming service Spotify to its TiVo Premiere boxes in the US. Now, in addition to Pandora fighting for time with the likes of Netflix (Nasdaq: NFLX) and Google's (Nasdaq: GOOG) YouTube, it will need to go up against a very formidable competitor.
This news isn't going to shake investors as Pandora is on many more devices throughout the U.S. However, as some consumer electronic manufacturers and service providers look to diversify content to make it more appealing, investors might want to keep an eye out for similar developments.
Shares are higher early Tuesday.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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