Apple has become a concern for Pandora
Apple has launched an online music stream and it has become a headache for the business of Pandora as their sale of music has gone down. The share value of Pandora has dropped drastically and it has closed with $10.47. The share value has decreased to 17%, which has made Pandora little frightened about their business.
Now the market is competitive and Pandora is also competing with the other companies like Clear Channel, XM Radio etc. Now Apple wants to have their business of online music stream. It is quite clear that Apple will have a huge effect on the market and will surely be the most critical threat to Pandora.
As a company Pandora has developed a lot in recent times. Now they need to provide their customers more and more music and other facilities. Pandora has some of the positive things for them which they can use to improve their business.
They can go for more commercials if possible. They are connected to 18 Automobile companies like General Motors’s Cadillac, BMW, Honda, Ford and Toyota in which they can stream their music on the mobiles using the dashboard in the car.
According to the recent report, Pandora is having a good business as an online music streaming and the success of Pandora has actually made big brands like Apple, Facebook to make a business of this.
There is also a chance of Apple acquiring Pandora. Albert Fried thinks that it will be very good for the business of Apple. If Apple starts the business, it will take time for them to enhance their business. However, for Pandora the market is already there.