3 Buzzing Social Media Stocks: Zynga’s Exec Team Loses Power, Facebook’s Game Initiative, and Pandora Deals with Dated Radio Law
Zynga (NASDAQ:ZNGA): Bloomberg is reporting that sources have indicated the departure of three more executives from the beleaguered gaming company this month, as if the company needed more bad news. John Osvald, a senior vice president of games, Jesse Janosov, a vice president who ran Zynga’s casino division, and Nathan Etter, a vice president of games, all submitted notices of resignation.
Facebook (NASDAQ:FB): Facebook has launched its own game publishing initiative, giving the competitors of Zynga a platform to develop and publish games accessible to smaller studios. The support from Facebook includes giving free advertising to select developers of high-quality games and other promotional support, so that more games can reach more users on the giant social network.
Pandora Media (NYSE:P): The fight between Pandora and the music lobby over a small FM station in South Dakota has shed some light on how outdated radio legislation is, Gigaom argues. Pandora — which purchased the radio station to secure lower royalty rates – must pay not just songwriters, but also the musicians who perform the music, unlike traditional broadcasting radio stations. This, in turn, is making it near-impossible to turn a profit — but the music industry insists that Pandora is just trying to chisel musicians.
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