WHY IS SIRIUSXM BUYING PANDORA IN A $3.5BN DEAL – AND WHAT’S IT GOING TO DO WITH A MUSIC STREAMING PLATFORM?

The eyes of the music business will turn towards US-based SiriusXM this Friday (February 1). That’s when the satellite radio giant, majority owned by Liberty Media, expects to close its $3.5bn all-stock acquisition of streaming service Pandora.

At the close of 2018, Sirius (which is available in the US and Canada, plus Puerto Rico) counted 34 million subscribers on its platform, while there were 69 million active listeners on Pandora (which is only available in the US) at the end of Q3.

That takes the companies jointly above the magic 100m number. Not bad when you consider that, at the end of September last year, Spotify had 59.2m active users in the whole of North America (including Canada), with 27m paying subscribers.

SIRIUS BELIEVES IT CAN  ‘FIX’ PANDORA’S DECLINING USER BASE AND LISTENING HOURS

Suite article MBW : https://www.musicbusinessworldwide.com/why-is-siriusxm-buying-pandora-in-a-3-5bn-deal-and-whats-it-going-to-do-with-a-music-streaming-platform/

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