Now that Apple has it’s feet in the 7 Inch Tablet market, next is to conquer the music streaming business. Word is head honchos from Sony and Universal music took a visit to Apple this week to take a look how Apple’s music streaming would work. Looks like Pandora will have some competition, for a second Spotify was a strong contender but they came and went. Now Pandora may have to step it up.
Pandora, based in Oakland, California, fell as much as 21 percent, the most since March, after Bloomberg News reported Apple’s progress on talks with the labels. The shares were down 12 percent to $8.20 at 3:55 p.m. in New York.
Executives from Vivendi SA (VIV)’s Universal Music Group, Warner Music Group, and Sony Corp. (6758)’s music division visited Apple’s headquarters in Cupertino, California, in recent weeks to learn more about its radio plans, the people said. Apple, the world’s biggest music retailer with more than 400 million iTunes accounts, wants listeners to be able to buy tracks as music streams or revisit what they’ve heard in auto-generated playlists, they said.
