RAIN 5/3: Pandora, NPR win big in 2011 Webby Awards
PANDORA DOMINATES MUSIC CATEGORY, NPR PICKS UP RADIO, NEWS AWARDSPandora and NPR turned out to be the big winners in the 15th Annual Webby Awards. The winners were announced today, with Pandora taking home the Webby Award and People’s Voice Award in the Music category — both for its website and its mobile apps.
NPR won both the Webby and People’s Voice Award in the Radio/Podcast category, as well as the Webby and People’s Voice Award in the News category. This American Life’s iPhone app won the Webby for best entertainment on handheld devices.
PANDORA STATUS UPDATE: 10B ‘THUMBS’, 800k SONGSPandora founder Tim Westergren announced on the company’s blog that they’ve reached their 10 billionth “thumb” song rating. It was a thumbs-up and it went to “Ridin’ Solo” by Jason DeRulo. (Westergren doesn’t say what the ratio is between thumbs-up and thumbs-down ratings.)
Additionally, Westergren reveals that the service now has 800,000 songs in its collection, 95% of which are apparently played each month. Earlier this year it was reported that the service’s library contains 80,000 artists. You can find Westergren’s blog post here.
RADIOIO PARENT ERASES $6M IN DEBT WITH EQUITY CONVERSIONRBR.com reports today that the publicly-traded parent company of webcaster RadioIO has eliminated its debt by paying creditors with preferred stock in the company.
IO World Media, which owns RadioIO (and, which, in turn is the Internet home of well-known talent Bubba the Love Sponge) erased nearly $6 million in debt with the “debt-for-equity” exchange. The deal netted officers, directors, and affiliates of the company three million preferred shares.
“According to an SEC filing, the preferred stock is convertible to common stock on a one-to-one basis, but may be redeemed by the company for $1 per preferred share under certain circumstances,” RBR reports. “The common stock has recently been trading around 18-20 cents per share.”
Read RBR‘s story here.
TUNEIN CHIEF: 300k ACTIVATIONS DAILYTuneIn Radio’s CEO Bill Moore tells Radio Ink that “over 300,000 new TuneIn users are activated every day.” However, he goes on to say that “despite wide adoption we don’t have a much revenue and won’t until we can be part of a solution where Internet radio becomes profitable.” You can find the full article here.
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