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August 29, 2012 | By Alex Pham
Internet radio company Pandora Media's losses tripled in its second quarter but investors didn't seem to mind as they pushed the company's shares up nearly 12% immediately after its financial report was released Wednesday afternoon. Instead, Wall Street focused on Pandora's revenue, which jumped 51% from a year earlier to $101.3 million in the quarter ended July 31. Analysts had expected the Oakland, Calif., company to post $100.4 million in sales. Losses of $5.4 million for the quarter were three times last year's loss of $1.8 million, weighed down by growing music licensing and marketing costs.
May 20, 2011 | Alex Pham, Los Angeles Times
Preparing to launch its own "cloud music service," Apple Inc. has reached tentative agreements with all four major record labels that would allow users to listen to songs from an Internet connection. It is unclear whether the Silicon Valley company has actual contracts with those labels -- Warner Music Group, Sony Music Group, EMI Group and Universal Music Group -- or whether details of the agreements are still being ironed out, according to people familiar with the negotiations.
September 22, 2007 | Martin Zimmerman, Times Staff Writer
Digital music, Bluetooth-enabled cellphone, text messages you can hear -- all in one integrated package. The latest pricey gadget from Apple? Nope, it's the latest car from Ford Motor Co. The automaker, in partnership with Microsoft Corp., is rolling out what it hopes will be a game changer in the world of mobile connectivity.
July 24, 2006 | Dawn C. Chmielewski, Times Staff Writer
Microsoft Corp. faces major challenges as it readies a portable music player and service to take on Apple Computer Inc.'s popular iPod, analysts said Sunday. The device, the first of a family of hardware and software products under the new Zune brand, is expected to ship by year's end and represents a fundamental shift for the Redmond, Wash.-based software giant.
August 30, 2008 | Michelle Quinn, Times Staff Writer
Napster Inc. has struggled to catch the ear of enough customers. Now the company is out of tune with some of its big shareholders. With its stock trading at $1.34 and subscribers leaving its digital music service, the Los Angeles company is facing a proxy battle with three investors who together own about 1.5% of the company. They each want a seat on the board and are pushing Napster's management to turn around its stock slump or pursue a sale. The company, which bought its name from the defunct file-sharing network, said Friday that it was continuing to look for suitors through UBS Investment Bank.
March 20, 2008 | Michelle Quinn, Times Staff Writer
Consumers might have the option to pay a higher price for iPods and iPhones in the future and get unlimited access to a music library, according to record industry executives who say they have had preliminary conversations with Apple Inc., the manufacturer of those devices. That would mark a change in strategy for Apple. A year ago, Chief Executive Steve Jobs said he didn't believe most consumers wanted to rent their music and that Apple had no plans to offer a music subscription service.
October 3, 2008 | Michelle Quinn
A sigh of relief could be heard in digital music land Thursday as the federal Copyright Royalty Board left unchanged the rate for royalties paid to songwriters and publishers for CDs and digital downloads. The ruling is the first time that the board formally set the digital download rate. Previously, because there was no formal rate for downloads, companies such as Apple Inc. had used the CD rate -- a 9.1-cent payment to the songwriter and/or publisher for every track sold through iTunes and other download stores.
October 29, 2009 | Alex Pham
Google Inc. started out 13 years ago as a simple search engine, but it has grown into a behemoth that has shaken up dozens of industries, including computers and cellphones. On Wednesday, it jumped into the music industry. The Mountain View, Calif., Internet giant unveiled a music search feature that lets users play millions of songs for free with an option to buy or rent them from several online music stores. Although not a direct threat to Apple Inc.'s hugely popular iTunes store, the new feature is expected to bolster the music services that compete with iTunes.
August 16, 2012 | By David Lazarus
Video killed the radio star. YouTube is now the leading way for young people to hear -- er, watch -- music, surpassing both radio and CDs. Nearly two thirds of 3,000 teens polled by Nielsen say they prefer YouTube when they want to take in some tunes. But apparently this doesn't mean music sales are dead. Nearly three-quarters of poll respondents say they purchased music in the last 12 months, which is more than the average across all age groups. "The accessibility of music has seen tremendous expansion and diversification," says David Bakula, Nielsen's senior vice president of client development.
May 8, 2007 | Alana Semuels, Times Staff Writer
After the Beatles arrived on the scene, Frankie Avalon, whose hit "Venus" was the last No. 1 song of the 1950s, watched sadly as fans ditched syrupy pop for rock 'n' roll. "I figured that was over," the 66-year-old crooner said about his recording career. Avalon went on to star in movies of the beach party genre. His music was relegated to discount bins in record stores and the playlists of oldies stations.
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