Livestreaming platforms are a dime a dozen these days, with many of them offering fans glittery features like virtual-reality visuals, gamified interfaces, and geofenced “local” shows. But Tim Westergren thinks of all that as only half the puzzle.
“Livestreaming doesn’t really matter if you can’t get people to see it,” Westergren, who spent two decades at Internet-radio company Pandora, tells Rolling Stone. “The audience is anemic and the revenue is low. Livestreaming should be a great new form of commerce for musicians — but it’s missing marketing and monetization.
“Livestreaming doesn’t really matter if you can’t get people to see it,” Westergren, who spent two decades at Internet-radio company Pandora, tells Rolling Stone. “The audience is anemic and the revenue is low. Livestreaming should be a great new form of commerce for musicians — but it’s missing marketing and monetization.
- 9/3/2020
- by Amy X. Wang
- Rollingstone.com
Music’s most innovative business was about to implode. This time last year, Pandora was in dire straits. The company had gone from being the music industry’s gilded pioneer — exciting everyone from teens to retirees with the newfangled idea of Internet radio at the turn of the century — to a lagging joke, edged out by the rise of on-demand streaming services. While Am/FM radio was still going strong, online radio couldn’t stack up to Spotify and Apple Music, and a series of expensive missteps sent Pandora’s stock tumbling precipitously low.
- 11/2/2018
- by Amy X. Wang
- Rollingstone.com
As it moves toward its long-anticipated public offering tomorrow, Spotify is the leading music streaming service by a wide measure. But how secure is the market leader’s lead? Since streaming services tend to be either selective or secretive about their subscriber numbers, which are generally not available to the public unless the service decides to announce them, Variety did some digging to find out just how far ahead of its competitors Spotify actually is.
Spotify According to figures made public in February, Spotify claims 157 million monthly active users in 61 countries, 71 million of which are in its premium paid subscription tier, which includes users on discounted (i.e. family or student plan) basis. While the company declined to provide how many discounted users it currently has, based on numbers provided in its SEC filing (which said free or discounted subscriptions accounted for “27%, 23% and 20% of total gross added Premium subscribers for...
Spotify According to figures made public in February, Spotify claims 157 million monthly active users in 61 countries, 71 million of which are in its premium paid subscription tier, which includes users on discounted (i.e. family or student plan) basis. While the company declined to provide how many discounted users it currently has, based on numbers provided in its SEC filing (which said free or discounted subscriptions accounted for “27%, 23% and 20% of total gross added Premium subscribers for...
- 4/2/2018
- by Jem Aswad and Roy Trakin
- Variety Film + TV
Pandora Media’s effort to find a financial savior has sent it into the arms of John Malone’s Liberty Media with a $480 million investment agreement announced this morning.
Liberty-owned SiriusXM will buy convertible preferred stock equal to 19% of Pandora — with an agreement not to go above 31.5% unless the board approves in 18 months. The price would amount to $10.50 per share.
The investment gives SiriusXM the right to designate three members of Pandora’s nine-member board. One will be Chairman.
In conjunction with the deal, Pandora agreed to sell its Ticketfly ticketing business for $200 million to Eventbrite. The companies now have a commercial agreement that Pandora says will “substantially broaden the scale of its ticketing opportunities.”
The Ticketfly deal is due to close by the end of September.
The news sent Pandora shares up 6.4% to nearly $9.00. SiriusXM is basically flat.
“This strategic investment in Pandora represents a unique opportunity for SiriusXM...
Liberty-owned SiriusXM will buy convertible preferred stock equal to 19% of Pandora — with an agreement not to go above 31.5% unless the board approves in 18 months. The price would amount to $10.50 per share.
The investment gives SiriusXM the right to designate three members of Pandora’s nine-member board. One will be Chairman.
In conjunction with the deal, Pandora agreed to sell its Ticketfly ticketing business for $200 million to Eventbrite. The companies now have a commercial agreement that Pandora says will “substantially broaden the scale of its ticketing opportunities.”
The Ticketfly deal is due to close by the end of September.
The news sent Pandora shares up 6.4% to nearly $9.00. SiriusXM is basically flat.
“This strategic investment in Pandora represents a unique opportunity for SiriusXM...
- 6/9/2017
- by David Lieberman
- Deadline Film + TV
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