Pandora (P) Lower as Microsoft (MSFT) to Release Xbox Music Earlier than Expected
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Pandora (NYSE: P) shares are a little pressured Monday following news that Microsoft (Nasdaq: MSFT) will be launching its new Xbox Music service ahead of the expected Windows 8 launch this month.
But, investors might be getting a little hasty. Though Microsoft's streaming music service will compete with Pandora, Spotify, and others, Xbox Music will only be accessible via Windows 8-equipped PCs, smartphones, tablets, and, of course, the Xbox gaming console.
The WSJ also notes how the service may give Microsoft a leg-up on Apple (Nasdaq: AAPL), which has been largely successful with selling music through iTunes, but hasn't launched its own streaming platform yet.
Microsoft's offering will have a free ad-supported service, or users can pay $9.99 per month for the ad-free version.
The music service is expected to debut on October 16th, while Microsoft will be holding a Windows 8 event on October 26th. Shares of Microsoft are up ahead of the bell, while Pandora is about 0.5 percent lower.
But, investors might be getting a little hasty. Though Microsoft's streaming music service will compete with Pandora, Spotify, and others, Xbox Music will only be accessible via Windows 8-equipped PCs, smartphones, tablets, and, of course, the Xbox gaming console.
The WSJ also notes how the service may give Microsoft a leg-up on Apple (Nasdaq: AAPL), which has been largely successful with selling music through iTunes, but hasn't launched its own streaming platform yet.
Microsoft's offering will have a free ad-supported service, or users can pay $9.99 per month for the ad-free version.
The music service is expected to debut on October 16th, while Microsoft will be holding a Windows 8 event on October 26th. Shares of Microsoft are up ahead of the bell, while Pandora is about 0.5 percent lower.
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