Apple announced on Monday morning that over 11 million customers have used iTunes Radio in the few days since launch. Apple’s new iTunes Radio launched this week alongside iOS 7, which Apple confirmed has been downloaded and installed on 200 million devices. This announcement sent Pandora’s stock tumbling 10% down to $24.26 at the close of the business day, according to Bloomberg.
Apple releases iTunes 11.1 with support for iOS 7 and iTunes Radio [Update: Apple having server issues]
With the imminent launch of iTunes Radio, Pandora has announced that it will remove the 40-hour monthly limit on free listening on mobile devices from September 1st.
Pandora had introduced the limits earlier in the year, and had citedÂ rising royalty rates that have gone up by 25% in the last three years as the reason.
The iTunes Festival returns this September for 30 nights of free concerts at The Roundhouse.
The festival kicks off with Lady Gaga on September 1st, and includes live performances by a number of popular artists includingÂ Justin Timberlake, Katy Perry, Queens of the Stone Age, Primal Scream, Jake Bugg, Phoenix, Jessie J, Jack Johnson and 30 Seconds to Mars.
iTunes Radio, Appleâ€™s free, ad-supported music streaming service, will be launched publicly next month along with iOS 7 and the new iPhone. Itâ€™s already available in beta versions of iOS 7 and iTunes, and is seeing a lot of interest from high-profile brands, many of whom will be signing year-long advertising deals with Apple for the service.