16 June 2011
Pandora internet radio in the US is also confident that people will move over from traditional radio to internet radio. According to Cabot, “Pandora Media priced its initial public offering (IPO) on Tuesday at a level that puts the company’s valuation at $2.56 billion, far above its expected range, according to the Wall Street Journal.”
A quote in The Daily revealed the challenges, “The Gamble on Pandora is a gamble on an established long-term trend of listeners switching from terrestrial radio to online radio. It was successful before in the transition from FM to AM, and it’ll be successful again.”
We agree, after all, how many upwardly mobile decision makers and trendoids have FM radio at home or at their desks? One thing they do have is broadband and mobile internet. [Source: The Daily]
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