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The latest from Tiger Blood Savery!
Internet Radio Round-Up – Pandora, Spotify, MOG, QTrax, Limewire, Beyond Oblivion and More
http://siriusbuzz.com/internet-radio...comment-127260
siriusperspective says:
March 9, 2011 at 11:25 am
Spencer, I was curious what you thought about Bob Pittman of Clear Channel on CNBC last week when he commented that he wasn’t sure you could make money on these services.He didn’t know if they were a free standing business. Sounds like everyone’s trying to make something stick to the wall. I want sirius/xm to provide a custom play-list service but I am glad they already have content first. I hear tivo is great but it is not t.v. On the other hand, how long before these services have enough money to sign deals with a NFL,CNN, FOX etc…
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sirius roadkill says:
March 9, 2011 at 4:22 pm
Don’t hold your breath waiting for that answer on Bob Pittman . . Spencer will not address it because it doesn’t fit his thesis . .
the same way he touts Pandora’s # of “Registered Users” and monthly revenue but never provides an ARPU calculation;
the same way he fails to mention that Pandora has never posted full-year profitability;
the same way he fails to mention that 86% of Pandora’s revenue is derived from advertising;
the same way he fails to mention that TSL (Time Spent Listening) has continued to decline as smartphone penetration has increased;
the same way he fails to mention that Pandora’s auditing process has material defects;
the same way he fails to distinguish between curated music and a playlist service.
Today’s article merely highlights the profound absence of any real barriers to entry and the severe fragmentation within the sector . . but hey, why let a few inconvenient facts get in the way of a good story!
Dr. Drew Weighs-In on Tyler's Recent Behavior
Cumulus Media to Acquire Citadel Broadcasting
Cumulus Media to Acquire Citadel Broadcasting
Thursday, March 10, 11:34 AM ET
Radio broadcaster Cumulus Media (NASDAQ:CMLS) said today it has agreed to acquire Citadel Broadcasting Corporation for $37 per share in cash and stock. The purchase values Citadel at $2.4 billion.
http://www.marketnewsvideo.com/story...iri-CML031011/
Lawsuit notifications follow the Citadel - Cumulus merger
Even though the ink is barely dry on the sale of Citadel Broadcasting to Cumulus Media, four law firms have already released notifications of possible class-action lawsuits regarding the merger. . . . . New York-based firm, Bernstein Liebhard LLP is investigating the sale of Citadel and "the potential unfairness of the price to Citadel shareholders and the process by which the Citadel Board of Directors considered and approved the transaction."
http://www.radio-info.com/news/lawsu...cumulus-merger
Clear Channel's Pittman Talks Pandora
March 11, 2011
Clear Channel Chairman of Media & Entertainment Bob Pittman spoke Wednesday at the Credit Suisse Investor Conference in Miami, and dedicated much of his speech to explaining the differences between radio and newer digital technologies. According to RBR.com, Pittman said, "Radio is quite different than playlists or music lockers. Typically people have had their radio they love and they’ve had their music collection. Things haven’t changed. They still have a music collection and they have the radio stations. One is programmed for them, one is where I program stuff myself and look through it and play it and have specific interests."
Pittman added that Pandora is essentially just a "playlist," similiar to what you'd make for your own iPod. "Remember how great it was for a while, but over time you got sick of listening to your own playlist. It burns out. That’s exactly what happens here, because what you’re going to find with Pandora, or even with our service as well, it’s a shortcut to create a playlist. You’re putting in a song. It creates a playlist. It’s a benefit – I’m not knocking it – it’s good, but it ain’t radio.
http://www.fmqb.com/article.asp?id=2132478
Bob Pittman spells out why Pandora is not Radio
"Pittman noted two studies which found the same thing – the longer someone listens to Pandora, the less they like it. Radio, unlike jukebox services, introduces new songs, has personalities to bond with and delivers local content. Personalities do make a difference, he said, noting that Clear Channel wouldn’t have paid Ryan Seacrest $60 million if it didn’t need to."
http://www.rbr.com/radio/bob-pittman...not-radio.html