Pandora exceeded Wall Street expectations with its quarterly earnings report Thursday, sending the company’s stock soaring. The streaming music service still faces the inherent challenges in its sector, however — namely rising royalty costs and how to monetize a mobile presence. In addition to the earnings report, CEO Joe Kennedy announced he will be stepping down from his position. Kennedy, who has been in place since 2004, oversaw Pandora’s rise as one of the dominant radio streaming services in both the desktop and mobile arenas.
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Pandora Tunes In Good Q4 Despite Royalty, Mobile Challenges
Posted by: Rachelle Dragani March 8, 2013 12:06 PMPandora exceeded Wall Street expectations with its quarterly earnings report Thursday, sending the company’s stock soaring. The streaming music service still faces the inherent challenges in its sector, however — namely rising royalty costs and how to monetize a mobile presence. In addition to the earnings report, CEO Joe Kennedy announced he will be stepping down from his position. Kennedy, who has been in place since 2004, oversaw Pandora’s rise as one of the dominant radio streaming services in both the desktop and mobile arenas.