![]() ![]() ![]() There are even stations dedicated to live events and music that's currently trending on Twitter. So far, I've found Apple's Featured offerings to be exceptional, as they range from simpler stations themed around popular genres to more nuanced mixes that combine the styles of a handful of hot artists. These blend the personal touch of a curated list with the scale and smarts of an underlying algorithm. One thing that clearly sets iTunes Radio apart from competitor Pandora is its Featured Stations. It is worth mentioning, though, that as of now, it's only available in the US. For a first attempt at a streaming-radio product, iTunes Radio definitely deserves kudos. And if you're using something else at the moment, you still might want to consider the switch. ![]() Photo courtesy of Pandora.If you're already using the built-in Music app as your mobile media player of choice, then jumping onto the built-in iTunes Radio ( new in iOS 7) is almost a no-brainer. Image: Brian McAndrews, the new Chief Executive Officer of Internet radio giant Pandora, faces competition from Apple’s new iTunes Radio service. “ is digging in already…We want to get him up to speed as soon as possible,” says Westergren. Pandora announced on September 11 th that McAndrews would succeed Joe Kennedy as the company’s CEO. “He has a rare combination of ad, technology, media experience,” says Westergren. From 1999 to 2007, McAndrews was the CEO of fastest growing digital marketing company of that time, aQuantive. Speaking at the Bank of America Merrill Lynch Media Communications and Entertainment Conference in Beverly Hills, Pandora founder Tim Westergren told an audience of media business types that preparations for the negotiations of a new royalty contract lasting through 2020 are already underway.Īs CEO, McAndrews will be expected to make the company financially sustainable even at a time of increased competition. The 14 billion hours of radio that Pandora streamed in 2012 cost a hefty sum, with more than half of Pandora’s $427 million in revenues going to royalty payments. Each time a song is played on Pandora, the artist receives a fraction of a penny (.0001). The current contract Pandora has with Sound Exchange, a non-profit responsible for managing the distribution of royalty payments, compensates the artists and recording label on a per play basis. Two years later the company reported an even greater loss of $38 million. In 2011 the company reported a net loss of $1.8 million. However the operation expenses, including royalty payments, marketing and administrative costs, increased at an even faster rate than the revenues. The company had a huge jump in revenue over the past two years, from $138 million in 2011 to $427 million in 2013. Since Pandora launched in 2000 it has accumulated a deficit of $139.6 million due largely to a burdensome royalties contract. “The listeners like because it has the human touch,” Abramson says, noting that Pandora has music professionals vetting each song they put into their catalog.Ībramson also added that the iTunes Radio catalog is so vast that a listener won’t have enough hours to even hear a fraction of the songs. “Having a huge catalog is an asset, but the fact is you are only going to cover a sliver of those 27 million tracks.” Will Abramson, founder of Yours Truly, a music blog based in San Francisco, says that it remains to be seen whether iTunes Radio will surpass Pandora as the leader of internet radio. Listeners also have the ability to buy a song while they are listening to iTunes Radio, an option Pandora doesn’t offer. ITunes Radio has 27 million tracks in its catalog compared to Pandora’s one million. McAndrews’ arrival comes at a challenging time for the 740 person company. As of Wednesday, the company is competing with Apple’s new iTunes Radio service, which many analysts believe could end Pandora’s long-standing domination of the Internet radio market. After just a few days on the job, Brian McAndrews, the new Chief Executive Officer of Internet radio giant Pandora, is already faced with a serious challenge. ![]()
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