Pandora Media Inc P shares were trending down Thursday morning, potentially reeling from news that Amazon.com, Inc. AMZN had partnered with Spotify to stream music through Amazon's Echo home media hub.
While Spotify is not new to Amazon products – the Amazon Fire TV and Kindle Fire support the streaming service – the addition of Spotify to Echo sees the company renewing its commitment to offering a complete Amazon-branded media ecosystem, even if it means co-opting other companies' services to do so.
Pandora investors may have been scared by the announcement, with Pandora shares down 1 percent at market open. Amazon's investors were still skittish after the company reported an earnings miss last week. Shares were down about 1 percent Thursday morning.
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