By: Economic & Finance Report
Sirius XM will be making a big acquisition in purchasing Pandora for a reported $3.5 billion dollars.
The deal seems to make sense since the growing competition in streaming services, such as Tidal, Apple Music, Spotify, and now YouTube Music, which are all culminating new listeners and subscribership.
Sirius XM has a subscriber base of approx. 36 million and Pandora has a listener base of approx. 70 million and of those 70 million, 6 million are paid premium subscribers.
The buyout of Pandora will make Sirius XM the largest audio service network globally. -SB