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| Joe Kennedy |
The company announced late last year it had generated about
$120 million in 2012, with profits of just over $2 million. Though 60 % higher
than the year prior, the figure fell short of what analysts had predicted.
The company pays high costs for licensing the music it
streams. In fact 61 % of revenues are dedicated to licensing.
Riding such a slim margin will likely raise the anxiety
level in whomever takes over Kennedy’s post. Pandora, once a pioneer in the
online radio category, has had to deal with new players in a game it helped go
global.
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