iTunes Radio Hopes to Beat Pandora Abroad
Bloomberg recently reported that Apple is preparing to expand its new iTunes Radio music streaming service into the U.K. and Canada, effectively beating Pandora to the punch. Apple may also be preparing to move into Australia and New Zealand, the other two countries where Pandora currently operates.
Pandora investors have been a little worried lately after Apple's entry into the market, as shares have begun to pull back from all-time highs. Apple's a heavyweight that most companies don't want to spar with, and it has significant advantages in scale and worldwide reach. Apple's longstanding relationships with record labels will also prove invaluable in the coming battle.
Apple negotiates its licensing deals directly with record labels, while Pandora relies on rights granted by government entities. That gives Apple more flexibility since it can hammer out specific details during contractual negotiations, even if it takes longer.
In this segment of Tech Teardown, Erin Kennedy discusses the possible rollout of iTunes Radio with Evan Niu, CFA.
A smart social play
This incredible tech stock is growing twice as fast as Google and Facebook, and more than three times as fast as Amazon.com and Apple. Watch our jaw-dropping investor alert video today to find out why The Motley Fool's chief technology officer is putting $117,238 of his own money on the table, and why he's so confident this will be a huge winner in 2013 and beyond. Just click here to watch!
The article iTunes Radio Hopes to Beat Pandora Abroad originally appeared on Fool.com.Erin Kennedy owns shares of Apple. Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends Amazon.com, Apple, Facebook, Google, and Pandora Media. The Motley Fool owns shares of Amazon.com, Apple, Facebook, and Google. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.