Consumers love Pandora (P +3.3%), but it's just not a good business, Steve Birenberg writes....

|About: Pandora Media (P)|By:, SA News Editor

Consumers love Pandora (P +3.3%), but it's just not a good business, Steve Birenberg writes. Active users and time spent per listener per day are exploding, yet every song listened to on Pandora carries a real cost which is increasing every year. Also, there's no infrastructure in place to sell local advertising needed to gain market share vs. old radio.