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Pandora (P) is going international: the Internet radio service, until recently available only in...

Pandora (P) is going international: the Internet radio service, until recently available only in the U.S., has launched commercial mobile and PC-based services in Australia and New Zealand. International streaming royalty rates are generally lower than U.S. rates, something that could lead to a more attractive margin profile. However, Pandora will also be a late arrival in any foreign market it enters, which means competition from Spotify and others will be tougher. (trial services)
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