Apple, Spotify, & YouTube change the on demand music ecosystem.
After Apple just announced it’s 6.5 million paying subscribers, the market weighs in on just how many players there will be.
“Shares in Pandora, the Internet radio service, fell by 35 percent in one day, wiping away $1.4 billion in the company’s market value. The stock closed at $12.39, its lowest price in more than two years.
The plunge in Pandora’s share price was to some degree the market’s judgment on the company’s outlook in the increasingly competitive field of streaming music, as Apple, Spotify and numerous other players spar for customers in a growing market.”
For more details, please deep dive with the latest expose from the New York Times: Pandora Shares Plummet as Competition Grows