Posted Sep. 12, 2013 at 6:51 a.m.

Premium Lock Facing increasing competition, Pandora names new top executive

Published: 2013-09-12 06:51:11
Updated: 2013-09-12 06:51:11

Pandora Pandora

With new leadership, Pandora aims to bolster advertising, which accounted for 88 percent of its $427 million in revenue last fiscal year. While the company dominates web radio, ad sales haven't kept up with growth in listeners or royalty expenses, leading to losses totaling $50.9 million in the past three quarters. This month's entry of ITunes Radio from Apple, already the largest online music seller, will add to the pressure on Pandora....

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