Many of Pandora’s public statements in recent months have focused on the way it is grabbing a share of the traditional radio listening market in the US. However, Clear Channel’s Bob Pittman has delivered a gentle slap in the chops with comments at the Brainstorm Tech conference, claiming that 93% of Americans listen to the radio, versus 3% who use digital services like Pandora and Sirius XM. “Pandora is a great ‘feature.’ I think people love it, but it’s still very small in the grand scheme of radio. The question is whether its a real business. I look at AOL Instant Messenger as a cautionary tale. Great feature – never made a good business.” Pittman would say that, of course: Clear Channel is working on bringing just such a feature to its own offerings through the iheartradio brand. “You can’t maintain the status quo. The world will walk away from you if you don’t catch up.” 
Source: Fortune

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