Could Streaming Music Go The Way Of The Betamax?
Hollywood and the recording industry, often called the content industry, have a long and ignoble history of opposition to new technology. That list now includes streaming services. The record industry is pushing every button to try to kill off this growing marketplace. Look at Pandora , which had 77 million active listeners at the end of May. During the month those millions and millions of people listened to 1.73 billion hours of Pandora programming, a 28% increase year over year. Wall Street expects Pandora to grow its revenue 38% this year to 900 million – that’s the good news. The bad news is the company is only expected to deliver $0.17 per share in earnings – $34.9 million in next income or a net margin of only 3.8%. That’s a far cry from other technology and media companies. – Christopher Versace, Forbes http://ift.tt/1pI7SSU