Pandora Releases New On-Demand Streaming Option
Since its big earnings miss and subsequent series of downgrades, Pandora Media Inc (NYSE: P) has been pumping new features to boost its value, its competitiveness and its declining user base.
As part of a previously outlined turnaround strategy, which includes an expanded non-music library and enhanced ad technology, management announced Thursday an on-demand service for both Pandora Plus and ad-supported listeners.
The Premium session unlocks after a 15-second ad and allows users to play specific songs, albums or playlists rather than cycling them through a curated list of recommendations. The service will last more than one song, but the exact amount has not yet been determined.
“Pandora is consistently testing user behavior to determine the optimal amount of time, which will continue to evolve over time as we learn more about listener habits when discovering Premium features,” the press release said.
Premium ultimately makes the previously uncontrollable service more competitive with Spotify, particularly considering its functionality on mobile. Spotify’s mobile product limits on-demand streaming through automatic playlist shuffling.
It might also improve Pandora’s attractiveness among potential acquirers, as some on the Street still anticipate a potential buyout.
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