Google Gets Jamming on a Major Initiative

Google Inc (NASDAQ:GOOG) launched its on-line music store, looking to grab a piece of the audio distribution pie from entrenched content majors such as Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN). Better late than never. The glitzy launch took place at the Mr. Brainwash Studios in Hollywood, California, on Wednesday.

Google (NASDAQ:GOOG) Music will feature more than 13 million songs and will be integrated into Android Market, Google’s (NASDAQ:GOOG) on-line store that sells apps for smart phones and videos. The Android operating system is the world’s number one operating system, running on more than 200 million mobile devices the world over.

However, analysts point to missing record label names such as Warner Music. “They’ve got to get that catalog filled pretty quickly,” said Mike McGuire, an analyst at industry research firm Gartner. “It’s a launch, but it’s kind of like a work-in-progress.”

An introductory offer from Google (NASDAQ:GOOG) allows users to download one free song every day. Purchased songs may also be shared among users on the Google+ (NASDAQ:GOOG) social network. “Recommendations from friends are the single most important way that people discover music and we think that this feature has the potential to really transform purchasing behavior,” said Zahavah Levine, Google’s (NASDAQ:GOOG) director of content partnerships for Android, at Wednesday’s event.

Here’s how top music stocks are trading now:

  • Google Inc. (NASDAQ:GOOG): The shares recently traded at $609.04, down $2.43, or 0.4%. Its market capitalization is $197.26 billion. They have traded in a 52-week range of $473.02 to $642.96. Volume today was 689,068 shares versus a 3-month average volume of 3,316,100 shares. The company’s trailing P/E is 20.76, while trailing earnings are $29.34 per share. About the company: Google Inc. is a global technology company that provides a web based search engine through its website. The Company offers a wide range of search options, including web, image, groups, directory, and news searches. Get the most recent company news and stock data here >>
  • Apple Inc. (NASDAQ:AAPL): The shares recently traded at $383.13, down $1.64, or 0.43%. Its market capitalization is $356.08 billion. They have traded in a 52-week range of $304.69 to $426.70. Volume today was 3,424,839 shares versus a 3-month average volume of 20,499,600 shares. The company’s trailing P/E is 13.84, while trailing earnings are $27.68 per share. About the company: Apple Inc. designs, manufactures, and markets personal computers and related personal computing and mobile communication devices along with a variety of related software, services, peripherals, and networking solutions. The Company sells its products worldwide through its online stores, its retail stores, its direct sales force, third-party wholesalers, and resellers. Get the most recent company news and stock data here >>
  • Amazon.com Inc. (NASDAQ:AMZN): The shares recently traded at $208.69, down $3.3, or 1.56%. Its market capitalization is $94.90 billion. They have traded in a 52-week range of $160.59 to $246.71. Volume today was 1,880,875 shares versus a 3-month average volume of 6,655,760 shares. The company’s trailing P/E is 110.01, while trailing earnings are $1.90 per share. About the company: Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company’s products include books, music, videotapes, computers, electronics, home and garden, and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers. Get the most recent company news and stock data here >>
  • Pandora Media Inc. (NYSE:P): The shares recently traded at $12.37, up $0.21, or 1.73%. Its market capitalization is $1.99 billion. They have traded in a 52-week range of $9.33 to $26.00. Volume today was 113,351 shares versus a 3-month average volume of 771,277 shares. The company’s trailing earnings are $-0.59 per share. About the company: Pandora is an internet radio station generating playlists based on a user’s favorite artist or song. Pandora’s service, free to its more than 80 million registered users and available only in the US, is supported by local and national advertising. Pandora chief strategy officer Tim Westergren founded the company in 2000. Get the most recent company news and stock data here >>
  • SIRIUS XM Radio Inc. (NASDAQ:SIRI): The shares recently traded at $1.71, up $0.05, or 3.01%. Its market capitalization is $6.39 billion. They have traded in a 52-week range of $1.27 to $2.44. Volume today was 32,529,482 shares versus a 3-month average volume of 74,707,600 shares. The company’s trailing P/E is 42.62, while trailing earnings are $0.04 per share. About the company: Sirius XM Radio Inc. broadcasts various channels of audio from its satellites. The Company provides its services throughout the continental United States for a monthly subscription fee. Sirius delivers various streams of commercial-free music in every genre, as well as streams of news, sports, weather, talk, comedy, and public radio. Get the most recent company news and stock data here >>

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