On-demand music streaming is a terrible business to be in. It’s crowded and unprofitable. But that’s not stopping Pandora.The world’s largest internet radio service on Tuesday unveiled its latest offering: a Spotify-like on-demand product called Pandora Premium. It looks a lot like Rdio, the little-used but beloved streaming service that Pandora bought (for key assets) and shut down just over a year ago.
It will cost $10 a month, like Apple Music and ad-free Spotify; there’s also a previously announced, limited $5-a-month subscription radio option that will arrive early next year. The trouble with on-demand music streaming is that the way the music label contracts are set up, the economics don’t really make sense, and it’s an increasingly crowded field.
Source: VICE News