Pandora News: Embattled Pandora Struggling for Survival
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As 2008 begins its slow descent towards 2009, the viability of online music experiences like Pandora are struggling to scale. The company has grown to roughly 40,000 visitors a day, with a yearly revenue of about $25 million. Making money it seems, is not a problem. What's crippling Pandora (and a lot of other online experiments) are the royalties. About 70 percent of that $25 million is going to the licensing of that music, making Pandora iincredibly popular but not very profitable. It also means that they'll have trouble scaling the business into something larger, as the more popular they become,...
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