Pandora Fans Flocking to Apple’s iTunes Radio

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Pandora Media is one of the hottest stocks of the year, about to triple in price, as listeners and advertisers have flocked to its online radio service. This week, the stock jumped up further to an all-time high, as strong investor demand let Pandora increase a secondary stock offering by 30%.

But the positive momentum is at risk as Apple this week launched a copycat service, called iTunes Radio, to hundreds of millions of iTunes users.

After Apple made iOS 7 with the new radio feature available for download on Sept. 17, Twitter mentions of iTunes Radio shot up to almost 250 times their level a few days earlier, monitoring service Topsy says.

Most of the 400 million iPhones and iPads sold in the last two years will end up with the new iOS 7software. And a new version of the free iTunes program added the radio feature for Mac and Windows PC users.

Tweeters were extremely positive about iTunes Radio and many said they planned to switch from Pandora.

Article by: By Aaron Pressman | Daily Ticker