Pandora has signed licensing agreements with Sony Music and Universal Music Group as it seemingly moves closer to launch of an on-demand service.Pandora has additionally signed licensing agreements with Merlin Network, along with The Orchard and over 30 other independent labels and distributors.
The New York Times recently reported that Pandora is expected to unveil, perhaps as early as this week, an expanded version of its US$5 subscription platform. The New York Times reported the service will soon introduce new features such as the ability to skip more unwanted songs and to store several hours of playlists online, according to three people with direct knowledge of Pandora’s plans.
According to the people, by Christmas Pandora wants to introduce an on-demand service, comprising tens of millions of songs, taking on the likes of Spotify and Apple Music, expected to cost US$10 per month, The New York Times reported.
Pandora states that the agreements pave the way for it “to bring new products to market that enable enhanced subscription services, fuel new advertising opportunities and deliver unprecedented flexibility and ease-of-use to listeners”.
The agreements apply for Pandora’s US business, while Pandora is also available in Australia and New Zealand.
It is now a case of wait and see, with regard to the potential introduction of new services in the Australian market.
“This was a truly collaborative attempt to find a solution that would support artists while profitably growing our respective businesses,” Tim Westergren, Pandora founder and CEO, commented.
“And that is exactly what we achieved. Working together, we can reshape the digital music market and grow a great business that provides tremendous value to the music industry for decades to come.”
