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The music streaming company announced Monday a $150 million investment by private equity firm KKR. On an earnings call with investors, board member James M. P. Feuille said the company is positioned to evaluate any potential strategic alternatives, "including a sale," in the 30 days before the financing is set to close.

Why it matters: While revenue was up 6% year over year, and subscribers up 20%, the company barely gained in advertising, its net loss grew. Most of its earnings come from its ticket vendor business, TICKETFLY. Investors are hopeful that Pandora's premium subscription model will help create a new revenue stream.

Country music could save Pandora: Per Marketwatch, 56 million of Pandora's 81 million active users subscribe to its "Today's Country" station. Country songs accounted for roughly 6% of the total streams on paid streaming services over the past two years.

Go deeper

Updated 14 mins ago - Politics & Policy

Congress grants waiver for retired Gen. Lloyd Austin to lead Pentagon

Defense Secretary nominee Lloyd Austin. Photo: Chip Somodevilla/Getty Images

Both chambers of Congress on Thursday voted to grant retired Gen. Lloyd Austin a waiver to lead the Pentagon, clearing the path to confirmation for President Biden's nominee for defense secretary.

Why it matters: Austin's nomination received pushback from some lawmakers, including Democrats, who cited a law that requires officers be out of the military for at least seven years before taking the job — a statute intended to reinforce the tradition of civilian control of the Pentagon.

McConnell to propose February impeachment trial

Sen. Mitch McConnell Photo: Kevin Dietsch-Pool/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) plans to propose later today that the impeachment trial of former President Trump begin in February to allow for due process, two sources familiar with the proposal tell Axios.

Why it matters: The impeachment trial is likely to grind other Senate business to a halt, including the confirmation process for President Biden's Cabinet nominees.

Dan Primack, author of Pro Rata
2 hours ago - Podcasts

Net neutrality on the line under Biden

Federal net neutrality rules are back on the table in the Biden administration, after being nixed by Trump, but now might be complicated by the debate over social media companies' behavior.

Axios Re:Cap digs into why net neutrality matters and what comes next with Nilay Patel, editor-in-chief of The Verge and host of the Decoder podcast.