Pandora is shutting down in 2 of the 3 countries it operates in — and its stock is tanking

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Pandora.
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Pandora

Pandora announced that its internet radio service will be discontinued in Australia and New Zealand on Monday, leaving only its United States service in operation.

Pandora subscribers and free users who tried to log on to the service in Australia and New Zealand over the weekend were reportedly warned of the shut down with the following message:

“Dear Pandora listener, We will be shutting down the Pandora service in Australia and New Zealand on July 31st, 2017. After this date, you will no longer be able to access the Pandora app of website. We’re honoured to have connected so many listeners with the music they love these past few years. Thank you for your loyalty and the opportunity to serve you. Sincerely The Pandora Team.”

Pandora launched its regional services in Australia and New Zealand in 2012. It has recently struggled financially, lost its founder CEO, and been unable to turn around its momentum despite launching its own on-demand streaming service, Pandora Premium, in March.

In June, Pandora also landed a $480 million investment from Sirius XM, after it rejected an offer from Sirius to buy the company outright.

Pandora will now be available in the US only. Global radio operation laws have prevented Pandora from launching its radio service in any countries other than Australia, New Zealand, and the US in the past.

Pandora’s stock dropped over 5% in trading early on Monday, following news of its Australia and New Zealand closures.