AM News: Pandora Gets Sell Rating, UK Grabs 12% Global Sales, Pitbull + Headliner.fm & More
(UPDATED) Pandora gets sell rating: Gilford Securities' Jim Boyle has given the stock a "sell" rating: "Pandora is blessed and cursed with remarkable growth...Last [fiscal year], active users soared 81 percent, listener hours zoomed 111 percent, and royalty fees were also up 111 percent. Cautious investors, impressed by growth, still wonder about margins." Pandora stock was down another 1.6% in mid-morning trading to $18.68 but seemed to be bouncing back some.
- Why the British music industry has plenty to sing about. Thanks to Adele, Mumford & Sons and Marsha Ambrosius topping the US charts, British artists now account for 12% of the global music market. (Guardian)
- Pitbull's campaign on Headliner.fm to promote the single has reached 2,518,210 music fans through recommendations from 1,693 other musicians.
- The Gregory Brothers’ First-Ever App Turns Speech to Song (Mashable)
- Crunch Digital announced that BMG Chrysalis has selected Crunch's PDX Service to utilize its data management services for selected cloud and Internet streaming music services.
- RIAA Starts Going After BitTorrent Sites - For years BitTorrent sites have remained untouched by the RIAA’s legal battles, but recent court filings indicate that this may change. After settling their dispute with LimeWire earlier this year the RIAA is now targeting several BitTorrent indexers. The record industry group has filed a complaint at the U.S. District Court of Columbia and has obtained subpoenas to reveal the identities of individuals behind three large torrent sites. (TorrentFreak)