Pandora Media reported first-quarter fiscal 2014 revenues of $125.5 million, a 55 percent year-over-year increase fueled by the continued growth of the streaming music service's mobile advertising efforts. Losses nevertheless widened to $28.6 million from $20.2 million during the year-ago period as content costs jumped 48 percent to $82.9 million.
Pandora is extending its partnership with Facebook with the launch of its new Timeline App, which allows registered users to publish their music listening activity to their Facebook Timeline.
Sony Music Entertainment is refusing to sign off on song skipping features integrated into Apple's iRadio, delaying the long-rumored streaming music service's commercial launch, CNet reports.
Google is poised to unveil a subscription-based streaming music service rivaling platforms like Spotify and Pandora.
Apple's much-rumored streaming music service remains in limbo as a result of ongoing licensing negotiations with the major record labels, The Financial Times reports.
Shazam has named former Yahoo executive Rich Riley as its new CEO, replacing longtime chief Andrew Fisher, who will transition to executive chairman duties. AllThingsD reports Shazam is making the moves to strengthen its leadership team and put itself in position "for next stage of growth and IPO."
Twitter officially launched its much anticipated #music discovery and sharing app via Apple's iOS platform and the Web.
April 20 is Record Store Day, the annual celebration of independent music retailers that brings a deluge of limited-edition vinyl releases from labels both large and small. If you fit within the target demographic--read: nerdy, music-obsessed males north of age 30--Record Store Day is quite possibly your favorite day of the calendar year. If you don't, you probably can't imagine why any sane person would wake up at the crack of dawn to stand in line for a shot at a 180-gram, purple vinyl pressing of Captain Beefheart and the Magic Band's Live at Frank Freeman's Beat Club.
WASHINGTON--Pandora's primary focus for growth is now mobile, with over 75 percent of total listening hours coming from mobile or other connected devices.
Apple is expected to complete a streaming music licensing agreement with Universal Music Group as soon as next week, The Verge reports.