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Pandora listeners can hear only so much


Pandora's earnings report follows its agreement to buy a ticketing agent. Sarah Tew/CNET

What's a company to do when its financials keep playing the same humdrum tune? Pandora is picking up new instruments.

Pandora, best known for its Internet radio service, also wants to be your concierge for local concerts. As it struggles to make money, the company is hoping to bring listeners closer to the artists they love through businesses like ticketing.

The expansion into this new area comes as streaming-music competition amps up with rivals Spotify and Apple Music, the latter of which launched at the end of June with a three-month free trial for iTunes users. At the same time, the growth in the number of Pandora's listeners continues to slow.

Take the company's third-quarter results. Oakland, California-based Pandora reported on Thursday another period of waning growth in its number of listeners and the amount of time they spent streaming songs. Listener-hour growth was 3 percent,...(continued)

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