This Competitor Is Coming Right At Pandora
Online radio TuneIn has just made a huge expansion move, entering into new partnerships with more than 20 major broadcasting companies that will help it add 600 new stations. It already has almost 50,000 AM/FM and Internet-only broadcasts in its portfolio and this new move will make it a much bigger threat to competitors Pandora (NYSE:P), Spotify, and Apple’s (NASDAQ:AAPL) iTunes.
While TuneIn does not offer the personalized service of Pandora, Spotify, or iHeartRadio, it aggregates broadcasts to help people discover what they’re interested in listening to. The service offers a list of local and genre-specific broadcasts that can be saved to presets.
TuneIn’s library of content has routinely put it among the top Internet radio brands, helping it add over 30 million active new users in the past year. The TuneIn app is consistently among the top free music apps for iOS and Google (NASDAQ:GOOG) Android. Still, the company has somehow always managed to get left out of Internet radio discussions. But with its daily listener hours growing 215 percent in the last 12 months and now this new expansion, its bigger, older competitors may need to watch their backs.
Among the new deals are content partnerships with Fox News Radio (NASDAQ:NWSA), Bloomberg Radio, Public Radio Exchange, Monocle 24, GoRadio.com, Laut.fm from Germany, and AccuRadio.