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RudieRudie
edited June 2011 in General
Pandora has gone public

The invisible hand of the free market currently values the company at $4 Billion (that's a "B"). Not bad for a company that has always and continues to lose money. But it's on the internet, so I guess that overrides any logical financial analysis!

Comments

  • DoofyDoofy
    Finally, investors get their wish
  • RudieRudie
    Perfect!
  • BigD-BluezBigD-Bluez
    From
    investors get their wish
    -"The U.S. economy cannot survive on sound investments alone," Carlisle added.

    Looks like the people who say the Fed and the markets are a gigantic Ponzi scheme may have a point by these standards.
  • cafreemacafreema
    BigD, is my sarcasm meter on the fritz? You do realize this is an Onion article, right?

    Craig
  • BigD-BluezBigD-Bluez
    edited June 2011
    Craig, that fact, unfortunately, does not make the gist of it any less true. Sadly, no sarcasm intended. What may be intended as satire often contains more truth than the authors may realize.
  • elwoodiciouselwoodicious
    Onion articles are funny because they are true.
  • thomnottomthomnottom
    There is a website dedicated to people commenting on Onion articles not realizing that it's satire. There's another one dedicated to real headlines that sound like Onion articles.
  • greggreg
    Thanks for the explanation elwoodicious and thom for a Brit. I didn't understand but it now all makes sense!
  • RudieRudie
    Well, a quick return to reality for Pandora!
  • cafreemacafreema
    Good lord. Below the IPO the day after increasing, what 60%?, on the first day? Wow.

    thom: I've seen the Facebook comments on Onion articles website. It's painful. Especially after The Onion posted the article about the $9 billion abortionplex Planned Parenthood put in Kansas. The believers that thought it was real made me weep for humanity.

    Craig
  • RudieRudie
    Thought this story was interesting about artists reclaiming Song Rights. Should provide for some interesting lawsuits and reading in the coming years. Of course, the record labels only have the best interests of their artists in mind, so I'm sure they will find an agreeable solution!
  • cafreemacafreema
    They don't need an agreeable solution, the musicians were just employees!

    I wonder if the RIAA has considered the fact that were a court to actually buy that garbage I guarantee that the IRS will come after the labels for payroll taxes for the past 35 years, plus interest and penalties. That might cut into the labels' bottom line.

    Craig
  • ScissorManScissorMan
    Interesting... I had no idea that was going on. I don't suppose there are similar laws in place for the UK and Europe...?

    Presumably if the artist is still under contract to the label they were on in 1978, and is still happy with that arrangement, they might want to leave things in place in order to avoid being dropped. But how many artists, out of the thousands who wrote songs and made recordings that year, are in that position? A dozen, maybe?

    Everyone else will almost certainly want to reclaim their rights, I should think. I'll be surprised if this doesn't go to the Supreme Court, and given the current state of SCOTUS, I'll be equally surprised if they don't rule in favor of the labels. I guess it depends on when the case gets there, who (if anyone) has retired from SCOTUS in the meantime, and whether or not Congress has allowed for their successor(s) to be confirmed (as this is the most obstructionist Congress in American history).
  • GermanprofGermanprof
    Tech Crunch reported that Warner Music Group is the first major label to sign a licensing deal with SoundCloud. They will support the streaming platform’s program “On SoundCloud,” which is described on the site as a “leading global platform that helps artists and creators share their music and audio with the world… [o]ur offerings support your creativity and careers with tools, exposure, rewards and millions of listeners.” Essentially, it sounds as though SoundCloud will pair the label’s artists with brands to create ad-supported content and revenue. Tech Crunch also claimed that SoundCloud was currently in the process of starting tentative negotiations with Sony and Universal again after previous talks had stalled. wonderingsound

    Call me a curmudgeon, but that makes soundcloud suddenly sound much less attractive to me. From music sharing to mall. Youtube lite.
  • greggreg
    I wonder if there is any connection here with all three labels coming off emusic?
  • cafreemacafreema
    Doubt it. It seems the majors are going everywhere they can for advertising. There was an article yesterday about a company that is putting advertising into old music videos on YouTube:

    Stereogum

    Craig
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