Songza Use Explodes, “Pandora Investors Should Be Concerned” Says Analyst
A blog post by a single analyst sent Pandora stock tumbling 12% in two days this week. BTIG Research's Richard Greenfield, citing impressive reviews and download stats for Songza's iOS apps and music concierge service, wrote: "We believe one of Pandora’s greatest strengths is its first mover advantage getting to scale….However, the history of the web has proven that first movers, even with large leads, does not mean success forever… Ask Alta Vista, MySpace and AOL.
Earlier this week, Songza became the #1 iOS music app for both iPhone and iPad. As Greenfield pointed out.
- Songza was the #1 iPad app overall – not just music.
- Songza is currently the #2 iPhone app overall ahead of Instagram.
- Since launch on 6/7 the Songza’s iPad app on the evening of June 7th, the app has generated more than 600,00 installs.
Greenfield also suggests that Apple's Siri will pose an additional strong threat to Pandora as adoption grows and moves into the automobile.
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love hypebot, but seriously keep better track of typos – I find one every other article it seems. I think you mean “600,000 installs” – very impressive number though!
I find it amusing that any analyst would warn Pandora investors about some new incumbent, when the real problem for both companies is how the hell they’re ever going to turn a profit.
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