Will Twitter’s Music App Hurt Pandora?
Twitter announced it will release a new app intended to recommend artists and tracks based on personalized signals, MarketWatch reports. The app may also allow users to share short music clips through Apple’s (NASDAQ:AAPL) iTunes, Google’s (NASDAQ:GOOG) YouTube, SoundCloud, and Spotify.
Although it is still unclear as to when Twitter’s new app will go live, rumors circulated after the company acquired We Are Hunted—a startup that tracks popular songs in social media.
A post on Twitter’s blog stated, “There’s no question that Twitter and music go well together. Artists turn to Twitter first to connect with fans, and people share and discover new songs and albums every day. We can’t wait to share what we’ve been working on at Twitter.”
Will Pandora Take Another Hit?
While the natural inclination is to think that any online media activity is bad for Pandora (NYSE:P), a number of analysts do not believe Twitter’s new app should cost the struggling company any more…
“It looks more like a marketing tool for artists and labels than a service for sitting and listening to music, so my guess is that the primary impact will be an increase in tweets from Kanye West and Justin Bieber,” Pacific Crest Securities analyst Andy Hargreaves told MarketWatch.
Until we know more about the new app, it is tough to assume anything about the effect it will have on Pandora. However, the release is unlikely to be delayed past this weekend as the popular music festival Coachella seems like an ideal time to release a music-sharing app.
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