|Bid||6.87 x 3100|
|Ask||7.07 x 27000|
|Day's Range||6.86 - 7.39|
|52 Week Range||4.09 - 9.98|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||7.40|
Controversy has popped up for Spotify. The music streaming service has removed embattled singer R. Kelly from its playlists.The company did so using its hate content and hateful conduct policy. Yahoo Finance's Alexis Christoforous and Jen Rogers discuss with BBG Ventures' Susan Lyne.
The company announced the extension of some convertible notes on Thursday night, and concerns about dilution likely contributed to the shares’ slide. On Thursday at a B. Riley conference, CFO Naveen Chopra responded to a question about recent statements by Liberty Media (FWONA) CEO Greg Maffei in which he alluded to “synergies” between Pandora Media and bankrupt radio company iHeartMedia, in which Liberty may be interested, as well as other assets—perhaps including Sirius XM (SIRI), which Liberty owns most of and also owns some of Pandora. Maffei, it should be noted, is Pandora’s (P) chairman, and Liberty is a part owner of Pandora.
Pandora has a total of 72.3 million users and hopes a higher percentage of those will use its premium service. Pandora stock has risen 33.2% since the company announced better-than-expected first-quarter results.
Pandora (P) is betting on programmatic advertising to turn around its dwindling fortunes in the advertising market. Its advertising revenue fell 3.9% YoY (year-over-year) to $214.6 million in the first quarter. Programmatic advertising is the automated buying and selling of online ad inventory, a model that has taken root in companies such as Facebook (FB) and Google (GOOGL).
Spotify’s (SPOT) first-quarter report as a public company was underwhelming, and its guidance for the current quarter disappointed. Spotify could have a much harder time meeting its goals for the current quarter, given Google’s (GOOGL) recent move of a revamped streaming music service. Google is launching YouTube Music to take on Spotify, Apple, Amazon (AMZN), and Pandora (P) in the multibillion-dollar online music service market.
Stock Research Monitor: ETM, P, and SPOT LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want a free Stock Review on SIRI sign up now at www.wallstequities.com/registration . On Thursday, May 24, 2018, ...
Pandora (NYSE:P) today announced that in accordance with its previously announced agreements with certain holders of its existing 1.75% senior convertible notes due 2020 (the “2020 Notes”) to exchange an aggregate of approximately $192.9 million principal amount of 2020 Notes for a new series of 1.75% senior convertible notes due 2023 (the “New Notes”), as described more fully below (the “Exchange”), the conversion rate for the New Notes has been set at 104.4768 shares of common stock per $1,000 note, which is equivalent to an initial conversion price of approximately $9.57 per share of common stock (subject to adjustment upon the occurrence of certain events). The Exchange is being undertaken to extend the maturity of a portion of the 2020 Notes.
Pandora (NYSE:P) today announced that it has agreed with certain holders of its existing 1.75% senior convertible notes due 2020 (the “2020 Notes”) to exchange an aggregate of $192.9 million principal amount of 2020 Notes for a new series of 1.75% senior convertible notes due 2023 (the “New Notes”), as described more fully below (the “Exchange”). The Exchange is being undertaken to extend the maturity of a portion of the 2020 Notes. After completion of the Exchange, $152.1 million aggregate principal amount of 2020 Notes will remain outstanding, and $192.9 million aggregate principal amount of New Notes will be outstanding.
Whether or not Sony Corp (ADR) (NYSE:SNE) made a brilliant move by acquiring the bulk of EMI Music Publishing this is largely a matter of your opinion of the music industry’s current health. Whatever the music industry is these days, or whatever it’s going to become, Sony’s mission to dominate it is at least the smartest way to take a swing. Sony, second only to Universal Music Group in terms of music revenue, reported it’s going to pay $2.3 billion to acquire EMI Music Publishing.
Shares in the world’s biggest jewelry maker, which is based in Copenhagen, slumped more than 8 percent at one point on Thursday, dragging it down to its lowest market value since February 2015. Investors started selling on advice from Carnegie, which slashed its share-price target by 43 percent and said clients should brace themselves for a Pandora “profit warning.” Carnegie based its prediction on “poor” first-quarter numbers, as well as concerns the company is doing badly in Italy and clear signs of a contraction in store productivity. At Danske Bank A/S, which owns Pandora stock via its $250 billion wealth management unit, the verdict is that sentiment has shifted and that the period of goodwill the company enjoyed earlier this year is over.
Shares in Spotify Technology and Pandora Media fell on Thursday as investors reacted to Google's YouTube business announcing plans to launch a new music streaming service on May 22.
Shares of Spotify (SPOT) and Pandora (P) both opened lower on Thursday after Google (GOOGL) announced that it will roll out a YouTube-based music-streaming service. In doing so, the technology giant joins an already crowded space, complete with some of the biggest names on Wall Street. Let's dive into the current streaming music landscape to gauge not only how things stand now, but what the market might look like down the line.
YouTube Music, which will offer both ad-supported and $9.99-per-month (7.4 pounds) versions, will compete directly with services from Spotify Technology SA (SPOT.N), Pandora Media Inc (P.N), Apple Inc (AAPL.O) and Amazon.com Inc (AMZN.O). YouTube Music will launch on May 22, and include features such as personalised playlists based on a user's YouTube history.
Here are some things going on today in the world of tech: Debating Cisco Shares of Cisco Systems (CSCO) are down $1.45, or 3%, at $43.70, after the company yesterday afternoon slightly beat fiscal Q3 revenue and profit expectations, and forecast this quarter’s results more or less in line with consensus. The company continues to make progress in transitioning its business to come from more recurring sources of revenue, and its “campus” switches for corporate networks returned to growth for the first time in several quarters, Chief Financial Officer Kelly Kramer told me in an interview. For the bulls, Paul Silverstein of Cowen & Co. reiterates an Outperform rating, writing that the report is “meaningfully better than [it] appears." “We think the reported numbers understate the true current and longer-term economics of CSCO’s business as measured by both growth and profitability—with ongoing improvement in the quality of CSCO’s earnings and cash flow to boot,” writes Silverstein.
Shares of Pandora Media Inc. and Spotify Technology SA are down in Thursday morning trading after Alphabet Inc.'s YouTube announced a new music streaming service called YouTube Music. An ad-supported version of YouTube Music will be free, while a premium version will cost $9.99 a month. YouTube said that users will be able to find songs by typing in song titles as well as more unconventional search terms, such as lyrics or descriptions like "that hipster song with the whistling." The service launches on May 22, and YouTube said it will feature a "tremendous catalog of remixes, live performances, covers and music videos that you can't find anywhere else." Alphabet shares are up 0.4% in Thursday morning trading and 15% over the past 12 months, while the S&P 500 has gained 16%.
Vivendi investors are eager for an update on plans for a possible listing of its music business on Thursday, hoping that could bolster the French media group's value after several setbacks in Italy. Top shareholder Vincent Bollore, who calls Universal Music Group (UMG) the company's "jewel", has been floating the idea of an initial public offering (IPO) for two years, through hints and statements that have supported the stock. The music industry grew for the third consecutive year in 2017 and the listing last month of the world's top streaming platform, Spotify, is seen as paving the way for UMG.
Pandora (NYSE:P), the largest streaming music provider in the U.S., announces ‘Up Close’ with Dierks Bentley, an intimate live concert experience on June 13 at Capitale in New York City celebrating the release of his ninth studio album, The Mountain, due out on June 8. To celebrate the event, Dierks curated an exclusive mixtape featuring his new music and other tracks that inspired him when writing this album. “Pandora is the preferred music streaming service in the U.S. for country music fans and the genre is the second highest ranking overall on the platform,” said Jeff Zuchowski, Vice President of Artist Marketing and Industry Relations at Pandora.
The leader in its industry, Spotify Technology SA (NYSE: SPOT )'s outlook is a balancing act between its strong brand strength and high Premium user churn rate. The Analyst Wells Fargo analyst Peter Stabler ...
On June 19, Pandora , the largest streaming music provider in the U.S., will host El Pulso Live in Miami headlined by Reggaetón music duo Zion & Lennox with opening act REYKON.
One thing they can live without, it seems, is charm bracelets. Pandora A/S said on Tuesday that sales growth in China slowed unexpectedly to 16 percent in the first quarter from 62 percent in the final three months of last year. When the country was in the grip of an anti-extravagance crackdown, Pandora's affordable trinkets, often featuring cats and Disney characters, were just the thing.
R. Kelly’s ouster from Spotify playlists last week touched off a broader debate about where the music industry should draw the line between penalizing bad behavior and engaging in censorship. Spotify Technology SA last week said it removed R. Kelly’s music from playlists created by its staff and from software-driven recommendations as allegations about the singer’s treatment of women over several years have gained momentum in recent months. CDs and other physical formats have for years carried “explicit content” warning labels on songs with explicit words—which some retailers have in turn refused to carry.
Sometimes, companies find themselves on the wrong side of a secular trend. Usually when that happens, even the most powerful companies can be crippled. Indeed, it isn’t out of the norm for a company stuck on the wrong side of a secular trend to entirely disappear.