Streaming music subscription services like Spotify, TIDAL and Apple Music are seeing growing popularity in markets around the globe. Pacific time to discuss the news.
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Pandora’s plans to launch an on-demand music-streaming service in the U.S. are several steps nearer this afternoon, thanks to the company’s latest licensing deals.
It was also disclosed that Pandora will launch an on-demand music streaming service before the year ends, and it will be priced at $10 per month. Subscribers will be able to skip more songs and store several hours of playlists in the cloud, The New York Times says it heard from three people claiming to have direct knowledge of what Pandora’s planning to do.
According to Sisario’s sources, Pandora can make the announcement to expand its premium internet radio subscription service as early as this week. The Pandora One package now removes the advertising and allows users to skip more tracks and, according to the Times’ sources, additional functionality will be added this month in a bid to sign up more paying users. This is in line with previous reports of Pandora’s plans of adopting an on-demand platform. Bear in mind that both Apple and Spotify now charge a $10 monthly fee for their premium unlimited streaming services. Amazon and Pandora seem to think so, as both are preparing to launch streaming services for as low as $5 per month.
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Amazon, meanwhile, is expected to reveal a platform with a large catalogue of music for $10 per month or about half that amount for customers using its Echo voice-activated speakers, according to the NY Times. It provides the Pandora service through over two models, such as free service and Pandora One. Reports are saying both of them will be coming up with new services that may only cost $5 a month. Following the completion of the transaction, the insider now directly owns 344,470 shares in the company, valued at approximately $4,684,792. Subscriptions rather than advertising are driving the streaming music boom, with most – though not all – streaming companies now seeing premium as their core future business, and the record companies and music publishers generally more enthusiastic about the paid-for platforms that generally generate much higher royalties for rights owners, artists and songwriters.
