Pandora spends $450 million to move into the market for selling concert tickets

Pandora is the grandaddy of the streaming music world, arguably the oldest and largest service in the world, with 15 years in business and 79 million users taking advantage of its service every month. And those listeners use the service a lot, on average listening to Pandora for 20 hours a month. But the company has struggled to turn a consistent profit, in large part because a big percentage of its revenue flows out the door to the record labels and music publishers who own the songs it plays. Those rates are actually set in large part by the federal government, not negotiated directly the way rates for Apple Music or Spotify are. As a result, the stock is currently down about 50 percent from its high in February of 2014.

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