Popular online music streaming service Pandora just killed its 40-hour-per-month listening limit for mobile users with free accounts. Earlier this year, the company cited rising licensing costs as the reason for the cap. It now credits the “rapid progress of mobile advertising” for the reversal, effective September 1, 2013.
More the point, though, may be the fact that the launch of Apple’s iTunes Radio is looming next month.
The following excerpt is from USATODAY!
Initial Facebook investors are finally in the black.
Shares of the No. 1 social networking firm Thursday rose $0.56, or 1.5%, to close at $38.05. It was the first time the stock has closed above its $38 a share offering price since the days following its initial public offering in May 2012.
Facebook came public amid great fanfare as many individual investors figured the company’s connection with a billion users worldwide would quickly turn it into a money making machine. Investors awarded the company with a lofty valuation of more than $90 billion as it seemed the company’s future was boundless.
But later, concerns grew that the company would face difficulty making the transition to mobile users, as it could be harder to place advertisements on smartphone screens. But after the company reported sharply higher quarterly profit as week, topping expectations largely on better-than-expected performance in mobile advertising, the negative pall on the stock eased.
Bloomberg reports Twitter is expected to gain around one billion dollars in marketing demand revenue over the next two years. Two people close to Twitter Inc. predict the social sharing platform to grow twice as fast as earlier publication had to state.
Twitter first began in the year two thousand six with high hopes for a bright future in social media marketing and advertising. It will take Twitter eight years to reach one billion dollars in sales.
It originally took Facebook six years to reach one billion dollars and Google five years to reach one billion dollars in overall sales. Twitter has recently put a large amount of time into managing their mobile advertising platform.