Westergren has said the company is confident that it can convince at least 10% of the roughly 88 million users of its free advertising-supported radio streaming service to become monthly subscribers of its on-demand platform.
Pandora has about 81 million listeners for its regular service, which more resembles radio because it streams a playlist of songs based on the listener's tastes.
Pandora officially launched its subscription streaming service, which will allow listeners to pick the song they want to play at any time and build their own playlists. All current users will receive an option to upgrade to the service in the coming weeks, the Oakland, Calif. -based company said Tuesday.
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But the question is, will people actually make the transition to a new platform? But these extra perks come at a cost of $9.99/month, according to Pandora.
Users can drop in a song and "rather than having to hunt and peck your way to a playlist", Pandora rolls out a whole host of songs uniquely picked for the user, he said. Search for an album or artist, tap play, and you're streaming an album. While Pandora is very late to the paid subscription game, a key differentiator will be its recommendation algorithm, which classifies every song along hundreds of dimensions to personalize its online radio service. Pandora Premium is now currently available on both Android and iOS, Google Chromecast, as well as across automotive consoles. Wedbush's 2017 revenue estimate may prove to be conservative, and it thinks Pandora could deliver upside should conversion to on-demand scale more rapidly than it has modeled. Pandora, which hasn't been profitable in eight quarters, is trading 24% below where it began trading when the company went public in 2011. Pandora Plus members (that's the ad-free radio tier) will get free access to Premium for six months. Existing Pandora users will receive their invitations to try out Pandora Premium starting on March 15. Premium will come to desktop computers and other devices in the coming months, the company says.
Will you be planning to check out Pandora Premium? In an update last December, Apple Music topped 20 million subscribers after 18 months on the market.
Offline mode: Download albums, songs stations or playlists you want and bring an end to those moments of deafening silence when you lose a signal. It'll also continue to add to this playlist for all songs you Thumbs Up going forward. There's also a My Thumbs Up playlist that includes every song you've ever liked.