FastCompany Magazine

The official Tumblr of Fast Company.

Apple is getting into streaming radio, according to The Wall Street Journal. But Pandora has survived worse.

Savage Beast Technologies launched its music kiosk software business in 2000—at exactly the wrong time. The brick and mortar music industry was collapsing. Tower Records, the first to offer Savage Beast’s service, closed the last of its U.S. stores in 2006. Virgin Megastores shuttered in 2009. Other major retailers that sold CDs, including Circuit City and Borders Books, followed suit.

“Unfortunately, that was a dying business,” said Joe Kennedy, CEO of Savage Beast successor Pandora. “The company hit hard times very very early in the process.”

Read on: How Pandora Soothed The Savage Beast