"Sirius XM invests $480 million in Pandora"
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CNET News Video
CNET News Video
Sirius XM invests $480 million in Pandora
Sirius XM is investing in the streaming music service, Pandora.
The satellite radio company announced a 480 strategic investment.
Now the move give Pandora a boost of cash.
Compete in the crowded streaming music space against the likes of Spotify and Apple.
Pandora recently announced an autoplay feature for its $10 per month premium service that infinitely plays songs similar to the last thing you listened to.
The deal also allows Sirius XM to now play in the streaming music world and will give Sirius around 16% ownership of Pandora.
The company was once rumored to potentially buy Pandora outright.
Now, Pandora was one of the first platforms to make audio streaming popular to consumers but its strict licensing agreements has limited you from picking the exact song you want to listen to.
Other services let you do this, and it slowed Pandora's growth.
I'm Brian Tong and stick with us for the latest news like this at C|net.com
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