Pandora helped jump-start the streaming music revolution but its Internet radio model has become antiqued as music lovers are increasingly turning to the competition's more attractive on-demand options that let them listen to any song they want at any time, free of licensing restrictions.
The streaming music pioneer, who in June quelled rumors that it was for sale, also revealed that it was working on an on-demand service. According to a recent report from The Wall Street Journal, that service could make its debut as early as next month.
Sources reportedly familiar with the matter tell the publication that Pandora is close to signing the remaining licensing deals it needs to move forward with its on-demand offerings.
For $10 a month, on-demand subscribers would get access to tens of millions of tracks just like you'd find on Spotify, Napster and Apple Music. The company's $5 per month plan, Pandora One, will stick around as Pandora will add some additional perks to it like the ability to skip more songs and listen offline.
Pandora will continue to offer its free, ad-supported tier as well by giving advertisers more ways to make their pitches to listeners.
Pandora founder Tim Westergren suggested in June that their on-demand service would be much more intuitive and personalized compared to the rest of the pack. In fact, it's why they bought Rdio last November for $75 million, he said.
Lead image via Spencer Platt, Getty Images