Pandora (P) Competitor Spotify is Spreading Like A Disease
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Pandora Media (NYSE: P) is trading surprisingly well Tuesday, following peer Sirius XM's (Nasdaq: SIRI) second-quarter results and outlook. But, should they be?
According to a couple of releases today, rival Spotify is making headway into expanding its mobile presence. First, Spotify said it released a new version of its app for Apple's (Nasdaq: AAPL) iOS, adding support for iOS 6. Updates include bug fixes and ability for iOS users to see more stations.
In addition, Spotify landed on Amazon's (Nasdaq: AMZN) Kindle Fire, with support for Android 4.0, mobile free radio, slide-out navigation, and so on.
The moves come following Spotify releasing apps for Google's (Nasdaq: GOOG) Android on July 31at and Research In Motion's (Nasdaq: RIMM) BlackBerry App World store on June 25th.
Pandora, of course, is also on those devices, but competition for the listener is fierce. Both, however, should be able to benefit from Apple deciding to no longer include YouTube as a standard on iOS.
Shares of Pandora are up about 4 percent Tuesday afternoon.
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According to a couple of releases today, rival Spotify is making headway into expanding its mobile presence. First, Spotify said it released a new version of its app for Apple's (Nasdaq: AAPL) iOS, adding support for iOS 6. Updates include bug fixes and ability for iOS users to see more stations.
In addition, Spotify landed on Amazon's (Nasdaq: AMZN) Kindle Fire, with support for Android 4.0, mobile free radio, slide-out navigation, and so on.
The moves come following Spotify releasing apps for Google's (Nasdaq: GOOG) Android on July 31at and Research In Motion's (Nasdaq: RIMM) BlackBerry App World store on June 25th.
Pandora, of course, is also on those devices, but competition for the listener is fierce. Both, however, should be able to benefit from Apple deciding to no longer include YouTube as a standard on iOS.
Shares of Pandora are up about 4 percent Tuesday afternoon.
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