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Pandora (P) -3.5% on news it's capping free mobile listening at 40 hours/month just a week...

Pandora (P) -3.5% on news it's capping free mobile listening at 40 hours/month just a week before its FQ4 report, and amidst widespread concerns about mobile ad rates. The decline comes even as Wells Fargo raises its valuation range to $15-$17 from $11-$13: the firm says checks with ad agencies and radio ad buyers turn up positive sentiment towards the company, and isn't worried about a potential Apple service.
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Comments (2)
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    Sounds like a good strategy to drive customers to seek alternatives.
    28 Feb 2013, 09:22 AM Reply Like
  • berbno1
    , contributor
    Comments (1379) | Send Message
     
    anybody listening to 40 hrs with commercials is brain dead anyway, and suspect there are very few of them. 40hrs for free seems reasonable considering P has to pay for each song. Everyone I know flipped to Pandora One long ago...good value.
    28 Feb 2013, 09:54 AM Reply Like
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