Boston, MA 10/09/2013 (wallstreetpr) – It is now apparent that Apple Inc. (NASDAQ:AAPL)’s business is business. When the tech giant launched the widely successful ad-powered iTunes Radio last month, there was nothing to tell how far the offensive could go against Pandora, presumably the market leader currently.
If there was ever doubt about whether Apple would give Pandora a run for its money in the internet radio service, the answer has now come and it says that Apple is targeting global outreach, at least 100 countries before it settles down to look back and see how Pandora grasps for breath.
There are a lot of factors which tilt the internet radio service business in favor of Apple. The company has the financial muscles to mount any campaign to against its competitors. And this is a lethal weapon against the rivals if Apple chooses to put it to use.
It is reported that Apple plans soon launch of iTunes Radio in the UK, Canada, Australia and New Zealand in the first phase of its market expansion. Pandora already operates in Australia, New Zealand and the U.S. So Apple’s coverage is about to exceed its chief competitor.
Of course, Pandora would wish to go the Apple’s way (global roll out), but it’s handicapped since it lacks extended music deals that would allow faster global march. In the contrary, Apple had prepared its path long before the launch of the service by making deals with music companies at international level.
According to Eddy Cue, Apple’s SVP, Internet and software, the tech giant is set revolutionize the internet radio service. This ambitious project is expected to turn the internet radio landscape on its head. The reported international roll out is set to start early 2014.
Currently Apple holds $436.93 billion in market capitalization with a P/E ratio of 12.01.
