Can You 'Spot'-ify Pandora's (P) Next Competitor?
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Pandora (NYSE: P) shares are trading higher Friday amid reports a competitor is near.
After reporting earlier in the week that Pandora might see competition from the AARP, there's a new, yet not unexpected, rival looking to take U.S. market share... Spotify.
Spotify has been available across the big pond (read: ocean) for a while now, but it wasn't available for U.S. listeners to enjoy.
That may all change next week, as several sources have said the service will launch here. Spotify has already secured a new round of funding along with deals for multiple record labels, and at least one writer from AllThingsD believes this sets the stage for a U.S. debut.
Or maybe not. Either way, some of the impact may already be priced into the stock, but it's anyone's guess as how many U.S. users will make the switch.
After reporting earlier in the week that Pandora might see competition from the AARP, there's a new, yet not unexpected, rival looking to take U.S. market share... Spotify.
Spotify has been available across the big pond (read: ocean) for a while now, but it wasn't available for U.S. listeners to enjoy.
That may all change next week, as several sources have said the service will launch here. Spotify has already secured a new round of funding along with deals for multiple record labels, and at least one writer from AllThingsD believes this sets the stage for a U.S. debut.
Or maybe not. Either way, some of the impact may already be priced into the stock, but it's anyone's guess as how many U.S. users will make the switch.
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