Shortly after updating its iPad product lineup and releasing OS X Mavericks, Apple has updated iTunes to version 11.1.2.
Pandora CFO acknowledges iTunes Radio as “credible threat”, says iTunes detrimental to music industry
Pandora is the internet’s biggest radio service, but is facing a lot of competition from all ends, including from Apple, with its new music streaming serviceÂ iTunes Radio. In an interview with CNET, Pandora’s CFOÂ Mike Herring spoke about how the company plans to react to iTunes Radio.
Eddie Cue, Apple’s Senior Vice President of Internet Software and Services, who was responsible for last month’s iTunes Radio launch along with iOS 7, in an interview with Entertainment Weekly provided interesting details of how the company plans to use the music streaming service for album premieres.
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.