This is what happens when there is no barrier to entry for internet radio -
Bloomberg excerpt -
“Usage is stagnating, I think that’s the fundamental challenge, competition has been starting to take its toll,” Rich Greenfield, an analyst with BTIG LLC, said in a telephone interview. “That’s going to scare the market for what’s supposed to be a rapid growth Internet company.”
Larger companies are building services to compete with Pandora, such as Google Inc.’s purchase of Songza Media Inc. and Apple Inc.’s acquisition of Beats Electronics LLC. The number of Pandora listeners and the amount of time they spend using the service is little changed on a monthly basis from December to June, said Greenfield, who rates the stock a sell.
http://www.bloomberg.com/news/2014-0...tml?cmpid=yhoo