RAIN 8/10: Pandora ends up worth more than AOL after tumultuous trading on Wall Street
BUSINESS INSIDER: “SHOCKING,” BUT “PANDORA IS GROWING” AND THAT’S WHAT THE MARKET WANTSAfter this week’s roller coaster ride on Wall Street, AOL ended Tuesday worth less than Pandora, according to Business Insider.
AOL ended yesterday’s trading with a market cap of $1.43 billion — though it dipped down to $1.1 billion during the day — which is behind Pandora’s $1.87 billion.
“That’s shocking,” writes Business Insider, pointing out that Pandora’s revenue is “about one-tenth” the size of AOL’s. “AOL has been around for more than 20 years, has the number-five Web property in the U.S. with an audience of more than 100 million.”
However, “Pandora is growing. AOL is stagnant. And that’s what matters to the market.” Find the full Business Insider article here.
Other market shake-ups yesterday included Apple briefly passing Exxon as the larget company in the United States. Yahoo! Finance has more coverage here.
CLEAR CHANNEL TAPS VITRUE FOR RADIO STATION SOCIAL MARKETINGClear Channel has appointed social marketing company Vitrue to handle social relationships for the media company’s 850 radio stations.
One of Vitrue’s first tasks will be to push Clear Channel’s iHeartRadio Music Festival, which kicks-off the launch of the “Pandora-like” iHeartRadio update in September. Find more coverage here.
SONY DEBUTS FOUR PANDORA-READY IN-CAR STEREOSSony has announced four new in-car stereo receivers with Pandora integration. The receivers require a connected iPhone to stream Pandora, but the high-end DSX-S310BTX model is compatible with Android and BlackBerry smartphones as well (a first, according to Sony).
MEDIA COLUMNIST: HOW SHOULD LOCAL RADIO BE PERSONALIZABLE ON FACEBOOK AND TWITTER?Local radio faces a dilemma on Facebook and Twitter, writes the Milwaukee Journal Sentinel media columnist Duane Dudek. “How do they personalize what is essentially a marketing device?
“Some simply go through the motions, posting links and videos. But others have a distinctive voice and an engaged group of ‘friends’ who banter with each other and with on-air personnel.” He goes on to list examples of the latter. You can read his column right here.
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