Pandora Media Inc. P, +4.92% stated Tuesday it has signed direct licensing agreements with Merlin network, Sony song and common song crew, as well as The Orchard and 30 other impartial labels and distributors. The newly signed companies sign up for greater than 2,seven hundred publisher who have also partnered with Pandora to license their catalogs to be used on its new merchandise. Pandora’s ad-supported and subscription offerings have greater than seventy eight million users taking note of greater than 24 hours of music every month. the corporate will host a convention call at 5:15 a.m. Pacific time to talk about the information. The inventory was once upgraded Monday by SunTrust Robinson Humphrey, on expectations of coming licensing offers amongst different catalysts. Shares rose 2.5% premarket, and are up 27% within the yr so far, while the S&P 500 SPX, +1.47% has won 5.6%.
Pandora signs licensing agreements with Merlin, Sony and Universal Music