Internet radio company Pandora Media delivered what it needed to deliver in its first earnings release as a public company: growth in the important, top-line categories like active users and listening hours, plus continued strong growth in revenue. Its net loss of $1.8 million in the quarter ended July 30 is merely a footnote at this point in the company’s history.
The earth did not stop turning when Steve Jobs, the executive most responsible for transforming how music is purchased, distributed and experienced in the digital age, resigned as Apple’s CEO Wednesday. And music industry executives .Biz spoke with -- including EMI CEO Roger Faxon, A2IM president Rich Bengloff and others -- continue to have faith in the Apple brand.
Now that Pandora's a publicly traded company, it will file it's first quarterly earnings report tomorrow, but there's a lot more to look for than just net profit or loss. Also, betting on the dark horse in the BlackBerry Music vs. Myspace comparison, Ticketmaster gets more social and Turntable.fm trends downward.
Years in the making, Beyond Oblivion’s Boinc, a device-based music service, is on pace to debut this fall. Licenses with Sony Music have been completed, according to source, and other licensing deals -- both with labels and manufacturers -- are nearing completion.
A new study puts the financial impact of 2011 South By Southwest Music, Film and Interactive Conferences and Festivals (SXSW) at $167 million. Also, iTunes give it away, give it away give away the new Red Hot Chili Peppers' album for free; and Japanese labels sue a YouTube downloading site.
HP’s move to chop prices on its tablets has resulted in massive demand for its TouchPad tablets. If Amazon’s upcoming tablet is priced low, it could actually add greater emphasis to the value of digital content... Cloud-based music service Rdio has rolled out a family-friendly pricing plan that lets allows two or three user IDs per account... Fanrank has raised $320,000 in angel funding... Stocks were mostly higher Monday after a tumultuous week that saw many music-related stocks fall. Bucking the trend was TransWorld, which rose 1.5% to $1.98.
Beyond Oblivion has finally released details of its device-based music subscription service. Called Boinc, the unlimited, ad-free music service will be bundled with mobile devices and PCs and can also be purchased separately.