SiriusXM has announced that it’s acquiring streaming music service Pandora for approximately $3.5 billion in stock, which Sirius says will make it the world’s largest audio entertainment company with over $7 billion in expected 2018 revenue.
With Pandora, Sirius believes it will be able to “significantly expand” from streaming its vehicle-centric satellite radio into other mobile platforms as well as homes. Listeners will not experience any sort of immediate change to their experiences, however.
The announcement says Sirius plans to create “unique audio packages” and increase Pandora’s in-car distribution by leveraging Sirius’ strong foothold in that market. Sirius also plans to create a “promotional platform” for artists that will be curated and personalized for users to deliver compelling listening experiences and connect artists with their existing fans as well as potential new fans.
Source: IGN.com SiriusXM Buying Pandora Streaming Service for .5 Billion