Taking an important step to make its business model more sustainable, Pandora is about to launch its on-demand streaming service. According to The Wall Street Journal, the Internet radio company is in the process of finalizing agreements with major record companies, that will grant Pandora the right to play their music (on-demand) in the U.S. and abroad. The launch of on-demand streaming will position Pandora somewhat closer to its counterparts such as Apple Music and Spotify. However, in terms of content, Pandora with its two million song library, will remain leagues behind Spotify, which currently dominates the market. Nevertheless, this is a much needed step in the right direction that should help Pandora diversify its business model.
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