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Monday
Nov162015

Pandora acquires RDIO music streaming service for US $75M

DateMonday, November 16, 2015 at 4:21PM

RDIO, one of the pioneering streaming music services has been purchased by Pandora for US $75 million. Pandora, it appears, plans to cannibalize RDIO and use it for parts to improve its service. Pandora said in an announcement that the acquisition includes “technology and intellectual property from Rdio.”

Pandora, which isn't available in Canada, has been facing stiff competition from streaming music leader Spotify and new entrant Apple Music  which are gaining popularity and being Internationally available. The streaming music industry has surpassed CD sales and even online music sales for the first time this year. 

Source: Variety

AuthorGadjo Cardenas Sevilla | CommentPost a Comment |
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