Pandora: The Music-Streaming Duopoly By Richard Saintvilus | TheStreet.com 4 hours ago NEW YORK ( TheStreet ) — In only the first nine months of the year, shares of Pandora have already tripled. While the Internet radio giant has done well, overcoming tough odds and growing despite stiff competition from the likes of Spotify and Sirius XM , Pandora has not shown that it can make enough money to justify investors’ faith. With Apple’s iPhones now available with iTunes Radio, which comes at a much cheaper cost than Pandora’s subscription service, Pandora’s already weak margins are suddenly under more pressure. Will the stock hold? Read: The Beginning of the End for Facebook With listening hours up 16% year over year and subscription revenue surging up 143%, I can’t deny that Pandora is an exceptional growth story. As with Facebook , Pandora is also benefiting from a dominant showing in advertising revenue, which continues to outperform Street estimates, climbing up recently by 44%. But eventually “the music stops.” Given that content acquisition costs continue to rise, including a 35% increase in the recent quarter, Pandora will have to do better than the $8 million GAAP (generally accepted accounting principles) loss the company posted in the recent quarter. Realizing that Pandora’s dealing with liquidity issues in looking for ways to finance its operations, last week management announced plans to sell 18.2 million shares in an expanded stock offering at $25 per share. The offering, which is expected to close on Tuesday, is an attempt to attract advertisers away from terrestrial radio stations. Given how the offering was structured, which includes a 30-day option for underwriters JPMorgan Chase and Morgan Stanley to purchase 2.73 million additional shares, Pandora might be able to net a total estimated sum of $393 million, given that the underwriters exercised their option on Friday. Investors cheered the news, sending shares of Pandora to its highest level in more than two years. But I wouldn’t get carried away just yet. Assuming the local U.S.
Music score may have secret code leading to Nazi gold, filmmaker says
iHeartRadio also partnered with the Shriner’s Children’s Hospital, which received $1 from every ticket sold for The Village. Highlights of the 2013 iHeartRadio Music Festival and Village: QUEEN, ADAM LAMBERT AND FUN. COLLABORATION: FormerAmerican Idolrunner-up Adam Lambert joined therock legends ofQueen on the iHeartRadio Music Festival stage for a memorable 35-minute set featuring some ofQueen’s most iconic songs, including “Bohemian Rhapsody,””We Are the Champions” and “Who Wants to Live Forever.”Pop-rock triofun. also joined Queen and Adam Lambert on stage to close out the opening evening with “Somebody to Love”and”Fat Bottomed Girls.” J.COLE DEBUTS CROOKED SMILE WITH TLC: Following a crowd pumping set with DJ and EDM music producer Tiesto, rapper J. Cole took the stage with the help of multiple guest performers. He kicked his performance off with a duet featuring Miguel, performing “Power Trip,” followed by his first-ever live performance of “Crooked Smile” with the newly reunited group TLC. JOAN JETT JOINS KE$HA ON STAGE: Ke$ha gave a daring and entertaining solo performance that included spitting whipped cream into the audience,kissing a fan and sharing the stage with male dancers dressed as women. Rounding out this entertaining performance wasrock legend Joan Jett who took the stage as a surprise guest to perform a duet of “Bad Reputation.” The collaboration ended with the crowd singing “Happy Birthday” to the rock icon. ELTON JOHN DAZZLES IN RED:From the moment he sat down in his red rhinestone-adorned suit and matching fire-red piano, living legend Sir Elton John captivated the more than 11,000 people at the MGM Grand Garden Arena Friday night with classic hits like “The Bitch is Back,” “Bennie and the Jets” and”I’m Still Standing,” plus a new song, “Home Again,” fromhis upcoming album The Diving Board. John also received a standing ovation following his performance of “Tiny Dancer.” KATY PERRY ROCKS POPULAR HITS:Katy Perry delighted fans with a mash-up of her most popular hits, including “Wide Awake,””California Gurls,” “Firework,” “Part of Me” and “Teenage Dream.”She also performed new songs, like recently released singles “ROAR” and”Dark Horse” with Juicy J. BRUNO MARS ROCKS THROUGH HIGH-ENERGY PERFORMANCE:Two-time iHeartRadio Music Festival performer Bruno Mars gave another crowd captivating performance with upbeat hits like”Locked Out of Heaven” and “Treasure” before transitioning to more heartfelt, passionate numbers like “If I Was Your Man.” He also included “Runaway Baby” and finished his set with his latest single, “Gorilla.” MILEY CYRUS CRIES DURING “WRECKING BALL”: Miley Cyrus performed twice Saturday, first at the afternoon outdoor iHeartRadio Music Festival Village, and then took main stage at MGM Grand on Saturday night. For both provocative performances Cyrus dressed in all white, wearing a tight corset and high wasted shorts during the day and a see-through mesh dress for the nighttime event. She performed four songs, opening with “We Can’t Stop,” followed by “Party In the USA” and closed with an emotional rendition of “Wrecking Ball.” JUSTIN TIMBERLAKE CLOSES FESTIVAL:Justin Timberlake closed out the 2013 iHeartRadio Music Festival with a 40-minute performance that concluded the 11-hour music festival. Timberlake’s set included three new songs fromhis upcoming album The 20/20 Experience 2 of 2 and mega-hits like “Mirror” and “SexyBack.” This year’s two-day iHeartRadio Music Festival brought to life the music of the iHeartRadio app and offered fans an opportunity to enjoy a weekend of incredible live music and surprise performances bytheir favorite artists. Throughout the year, iHeartRadio delivers everything listeners want in an all-in-one platform: Instant access to more than 1,500 radio stations from across the country, user-created Custom Stations inspired by a favorite artist or song, thousands of curated digital stations “Perfect For” any mood or activity, and the new iHeartRadio Talk feature giving users access to the best on-demand news, talk and entertainment content available today. True to radio’s commitment to serve the communities in which we live and work, the iHeartRadio Music Festival has partnered annuallywith a number of nonprofit organizations. In the past three years, the Festivalhas helped raise $1 million for a number of national charities, including the American Association of Cancer Research, the Alliance for Lupus Research, Muscular Dystrophy Association, The Ryan Seacrest Foundation, Young Audiences of New York, Eric Trump Foundation, CureDuchenne and many more. Additionally, The Festival has created dozens of irreplaceable memories for a number of critically ill children and their families through its partnership with Make-a-Wish Foundation and other similar organizations. The iHeartRadio Music Festival was heard live across Clear Channel radio stations nationwide and streamed live at iheartradio.yahoo.com and on PlayStation3. The Festival will be televised as a two-night primetime special on The CW NetworkMonday, Sept. 30 (night one) at 8-10 p.m. EST/PST and Tuesday, Oct.
Third Annual iHeartRadio Music Festival Brought the iHeartRadio App To Life With More Artists Than Ever Before
Spiegel Online reports Leon Giesen, 51, has led three attempts in recent weeks to unearth the rumored buried loot in Mittenwald, near the Austrian border after the towns officials signed off on the hunt. The strange sequence centers on the recent public revelation of an annotated score of the March Impromptu, a piece of music by composer Gottfried Federlein, the news agency reports. “It’s like a treasure map that can’t be deciphered.” – Jurgen Proske, a German historian According to Spiegel Online, Nazi leader Adolf Hitler ordered his private secretary, Martin Bormann, during the final days of World War II to imbed a series of letters, figures and runes on the sheet music that would, when deciphered, lend the coordinates to a horde of buried treasure. A military chaplain was then reportedly ordered to squire the score to someone in Munich but it never arrived. Decades later, Dutch journalist Karl Hammer Kaatee came into possession of the document. Then, in December and after repeated unsuccessful attempts at cracking the code Kaatee made the score public to much fanfare overseas, according to Spiegel Online. “It’s like a treasure map that can’t be deciphered,” Jurgen Proske, a German historian, told the news agency. Now, Giesen believes hes finally uncovered the solution to the sheet musics alleged mysterious code. The Dutch filmmaker reportedly believes a line added to the score that reads, Wo Matthias die Saiten Streichelt,” or where Matthew plucks strings,” actually refers to Mittenwald and one-time resident Matthias Klotz, who purportedly founded the towns renowned violin-making tradition. Also, Spiegel Online writes Giesen says the sheet music contains a schematic diagram of train tracks that once ran through Mittenwald in the 1940s, and that the chopped sentence, Enden der Tanz,” which means “end the dance” — located at the conclusion of the score — means the treasure can be found at the former site of the rail line’s buffer stops. And eerily early digs have reportedly revealed a large quantity of unidentified metals, which Giesen cites geologists as describing as an, anomaly, a substance that doesnt belong there. The Dutchman is now looking to raise the requisite funds to continue the dig, according to Spiegel Online. Proske, though, has his doubts, reportedly saying, “It could be a treasure chest. But it could just be a manhole cover.”