Pandora founder Tim Westergren said in an interview at the Consumer Electronic Show in Las Vegas, that Pandora had not only more than doubed its revenue in 2009, but turned in a black balance sheet for the first time in its 10-year history during the fourth quarter.
Pandora has signed deals with both Pioneer and Ford Motor Co., to ensure their service will be placed into thousands of car dashboards over the coming year, “Maybe a year ago people would have said Pandora is a computer thing,” said Westergren. “Now they’re beginning to realize that Internet radio is an anytime, anywhere thing.” This news is bound to be good for Pandora’s bottom line, but mobile internet will be another thorn in the side of satellite radio providers like Sirius, who are already under fire from the NASDAQ to get their stock price above $1.
Finchy posted about the NPD report on market share of various digital music stores, over the next couple of weeks we’ll have a focus on each of the main players in the digital music scene, as well as some of the up-and-comers, and round off with a summary. If you’d like a particular retailer to be given the treatment, please drop us a line at mail@routenote.com.
It is now official the world’s largest retailer of independent music and the world’s second largest digital music retailer overall, with over 2 million tracks from more than 13,000 independent labels, has joined forces with RouteNote. Once RouteNote is launched all artists signed up will be able to opt-in to sell their music on eMusic. This is a great opportunity for our artists to distribute to a huge audience that loves to purchase all types of music.
eMusic is a subscription-based service that allows consumers to own, not rent their music, eMusic is the largest service to sell tracks in the popular MP3 format—the only digital music format that is compatible with all digital music devices, including the iPod®. eMusic targets and successfully direct-markets to consumers who are interested in music outside the commercial mainstream, dramatically expanding the sale of catalogue typically known as “the long tail.” Since Dimensional Associates acquired eMusic in 2003, the company has more than tripled its subscriber base.
