Pandora (P) on Watch as Apple (AAPL) Pushing Hard for Summer '13 'iMusic' Launch
Pandora (NYSE: P) shares might see a little pressure Monday as more chatter surrounding Apple's (Nasdaq: AAPL) effort to launch a streaming music service is heating up.
The Verge reports that talks between Apple and music labels Universal and Warner are significantly advancing. News comes following reports last February that Apple is looking to pay just 6 cents to stream 100 songs, versus 12 cents for Pandora and up to 35 cents paid by Spotify.
Apple might also be pushing for a summer 2013 launch of the service, tentatively called 'iMusic'.
Pandora has been moving to alter royalties paid and many in the sector believe the company is a "capable and communicative" partner. Apple's entry into the streaming segment might aid Pandora in its quest, now that competition will have markedly risen.
The Verge reports that talks between Apple and music labels Universal and Warner are significantly advancing. News comes following reports last February that Apple is looking to pay just 6 cents to stream 100 songs, versus 12 cents for Pandora and up to 35 cents paid by Spotify.
Apple might also be pushing for a summer 2013 launch of the service, tentatively called 'iMusic'.
Pandora has been moving to alter royalties paid and many in the sector believe the company is a "capable and communicative" partner. Apple's entry into the streaming segment might aid Pandora in its quest, now that competition will have markedly risen.