Stock Update (NYSE:P): Pandora Media Inc and Warner Music Group Announce Direct Licensing Agreement

Pandora2Pandora Media Inc (NYSE:P) announced a direct licensing agreement for recorded music with Warner Music Group. This agreement enables both companies to support artists and satisfy the full range of music listening experiences for consumers.

“Warner has been a tremendous partner to Pandora and we’re thrilled to expand the relationship in a way that truly supports both of our businesses and the artists we serve,” said Tim Westergren, founder and CEO of Pandora. “With this agreement, we’re on a path to launch the world’s most personal and complete music experience that our listeners will love.”

“Pandora has built a huge audience with a compelling product and we’re looking forward to new and enhanced subscription services for music fans and improved monetization for our artists,” said Ron Wilcox, Executive Counsel for Business Affairs, Strategic and Digital Initiatives, Warner Music Group.

Today, more than 78 million users listen over 24 hours per month to Pandora’s ad-supported and subscription offerings – more than twice the engagement of all other streaming services. Pandora will soon deliver the world’s most personal and complete music experience, while opening up the full power of the platform to connect artists with their fans at scale and leverage the promotional offerings of Pandora’s Artist Marketing Platform (AMP).

The agreement applies to Pandora’s business in the United States. (Original Source)

Shares of Pandora closed flat today at $13.31. P has a 1-year high of $22.60 and a 1-year low of $7.10. The stock’s 50-day moving average is $13.73 and its 200-day moving average is $11.49.

On the ratings front, Pandora has been the subject of a number of recent research reports. In a report released today, Needham analyst Laura Martin reiterated a Buy rating on P, with a price target of $16, which represents a potential upside of 20% from where the stock is currently trading. Separately, yesterday, Wedbush’s Michael Pachter reiterated a Buy rating on the stock and has a price target of $15.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Laura Martin and Michael Pachter have a total average return of 19.7% and -1.7% respectively. Martin has a success rate of 67.5% and is ranked #33 out of 4151 analysts, while Pachter has a success rate of 50% and is ranked #3517.

Overall, one research analyst has rated the stock with a Sell rating, 9 research analysts have assigned a Hold rating and 12 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $15.33 which is 15.2% above where the stock opened today.

Pandora Media, Inc. provides an internet radio service in the United States, Australia and New Zealand. It offers a personalized experience for listeners to listen radio on smartphones, tablets, computers and car audio systems and Internet-connected devices. The company has developed a form of radio that uses intrinsic qualities of music to initially create stations that then adapt playlists in real-time based on the individual feedback of each listener. Its service is available through various distribution channels and it has developed applications for smart phones, such as iPhone, phones running the android operating system, the windows phone and for tablets, including the iPad and tablets running the android operating system. 

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