Pandora CFO Mike Herring sees Apple’s new iTunes Radio platform as a formidable challenger to the Internet radio empire Pandora has helped to build.
“We take them very seriously and do see them as a credible threat,” Herring admitted in a recent interview with CNET.
Although the executive doesn’t cite any particular reasons why iTunes Radio is such a credible threat, it’s obvious that the reach of the Apple ecosystem not to mention massive support from major record labels have all contributed to the strength of Apple’s new platform.
Then again, Herring doesn’t think that iTunes Radio is going to put Pandora out of business either.
“Keep in mind there have been lots of credible threats over the years, from startups to Microsoft to Google, to Apple and Twitter this year,” Herring continues. “We absolutely see iTunes as a competitive option out there, but we think we are a great service that does this better than anybody else.”
To read the full interview with Pandora’s candid Mike Herring, click here.