iRadio, Apple's as yet unconfirmed music service, doesn't worry Pandora, one of the major players that iRadio will have to compete against.
That's according to Pandora CFO exec Mike Herring, who played down the gathering speculation, and referred cheekily to "real or imaginary" competitors, following the news that his company's share price is continuing to fall. The LA Times reports that it dropped by 5.5 percent on Tuesday and has fallen by a worrying 15 percent since Friday.
Speaking at the Bank of America Merrill Lynch Global Technology Conference, Herring said: "We’re waiting, like the rest of you, to find out what they’re going to do. We’ll compete against any real or imaginary competitor just the way we always have.”
Pandora may be suffering from the gathering excitement surrounding Apple's rumoured service - even the name iRadio hasn't been confirmed - but Herring pointed out that a similar dip affected the company's share price just before Google launched its own music service, and the company recovered from that.
Pandora is an internet radio service which allows users to tailor a personal radio station to fit their musical tastes. It doesn't operate in the UK, where the main player is Spotify.
It's expected that iRadio will be one of the major announcements at Apple's WWDC 2013 conference next Monday night, but as usual the event is shrouded in secrecy. Also potentially on the menu: iOS 7, which is expected to get a new lick of paint and a cleaner, flatter interface; OS X 10.9; and new Macs, iPhones and iPads. But comments by Tim Cook in April suggested that many of Apple's big hardware product launches will be saved for autumn. Macworld UK will be covering and analysing all the big announcements as they happen on Monday night, from 6pm.
[Related: Apple 'racing to launch iRadio music service at WWDC 2013' | Apple 'close to deal on Spotify-esque iRadio service' | iRadio set for 2013 launch, Apple in talks with music labels | Apple's Tim Cook discussing new music service with Beats CEO | Apple's iRadio delayed by 'cheap' offer that left record labels unhappy]