Pandora used to be the bees knees when it came to steaming music, but they fell off the map pretty damn hard. In fact, Spotify and Apple Music are so far ahead of the curve that Pandora have gone ahead and made a $75 million purchase of key assets from Rdio.
Pandora CEO Brian McAndrews essentially said, without directly saying it, that the purchase was made to compete with Spotify and Apple Music.
“Whether streaming through radio, on-demand or in-person at live events, Pandora is building the definitive source for fans to discover and celebrate music,”
I’m not gonna say that I haven’t discovered some good music thanks to Pandora, but they’re lacking in a few major areas and of those is the on-demand, streaming department. Rdio, which was once worth $500 million, filed for bankruptcy back in June and said that they’ll be shutting down after Pandora finalizes the purchase in the coming weeks. Remember, this is not a takeover of Rdio, it’s simply a purchase of intellectual property and technology.
You might also have heard that Pandora spent a cool $450 million on Ticketfly, which will help them get into the live-music business. So, they’re clearly throwing a lot of mud at the wall. Let’s see if it sticks.