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In the past month, three of the largest music streaming companies all declared major business changes:

  • Pandora, which has 81 million users, is reportedly in talks with SiriusXM about a potential acquisition. Pandora said last Monday it has raised money to potentially explore a sale next month.
  • Spotify, which has 100 million users, is reportedly planning a direct listing on the NYSE as early as this fall.
  • IHeartRadio, which has over 100 million registered users for its streaming service, announced last month it expects bankruptcy this year.

What it means: The business changes at each organization may not be related, but they point to a growing trend of competitiveness driving instability in the music streaming market.

  • Earlier this year, Jay-Z sold 1/3 of his streaming service, Tidal, to Sprint after facing major losses in 2015.
  • Meanwhile, Pandora and iHeartRadio both launched subscription services to compete with the likes of Spotify and Apple Music, who are leading the market in subscribers.
  • And like we're seeing with the cable industry, all the players are facing messy disputes over licensing fees with the content creators.

Go deeper

NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

35 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.

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