Pandora is the granddaddy of streaming music, with more than 15 years in business and more monthly listeners using it to hear tunes than any anyone save for YouTube. But Pandora, a public company, has struggled to turn a profit, and seen it’s user growth slow in recent years.
Today it announced that it will be acquiring “several key assets” from Rdio, which is filing for bankruptcy. The purchase price is $75 million, and the acquisition includes technology and intellectual property. Several teams from Rdio will be offered the chance to work at Pandora.
Read the rest of this post on the original site »
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
:format(webp)/cdn.vox-cdn.com/uploads/chorus_image/image/63704382/20151116-pandora-concert.0.1489481184.0.jpg)
