Apple Music arrival causes Pandora and Rhapsody shares to fall
Shares of both Pandora Media and partial Rhapsody owner RealNetworks fell by 4% following the announcement of Apple Music at the live-streamed Worldwide Developers Conference on Monday.
Pandora’s shares plummeted $0.70 to $17.69 leaving the company with a $3.8 billion market cap.
RealNetworks’ shares dropped $0.25 to $6.82. The company now has a market cap of $246.2 million.
Investors are concerned that Apple's new music service - which includes a siri-integrated streaming platform as well as a 24 hour ...
Login to access this article
To access this article you need to be a subscriber. If you are a subscriber login below.
Login NowSubscribe
If you have previously taken a trial you will need to subscribe to access this article.
Subscribe Now
