Move Over Pandora, iTunes Radio is Here
The threat of fresh competition is fierce for Pandora as Justin Timberlake exclusively backs the new iTunes Radio.
With the sequel to JT's album, "20/20 Experience," now available only on iTunes Radio before it's official release date, Pandora should be concerned with its new competitor.
The iTunes Radio has gathered more than 11 million unique listeners in less than one week of launching. With a name as big as Justin Timberlake backing the product, BTIG analyst Rich Greenfield stated that this type of exclusivity will drive growth far past the point of initial excitement, which is why Pandora should fear the future result.
"Apple appears to be using its strong music label relationships and direct label deals to gain access to unique content for iTunes Radio, which is simply not available to services that use compulsory music licenses (such as Pandora)," Greenfield said.
Pandora remains confident and unfazed by the competition while critics thinks it is underestimating the potential of iTunes Radio.
Do you think iTunes Radio will put Pandora at risk in the future?