Now that Pandora has its long-awaited subscription-based on-demand platform, can it help the streaming audio company grow? What about iHeartRadio, or Spotify, or Tidal, or … You get it, the market is crowded. Yet, Glenn Peoples, Pandora Media’s Music Insights and Analytics chief, is convinced big growth is set to happen between now and 2021. Is he crazy, or is he right on the money?
By Glenn Peoples
The premium music service, a feature-filled subscription product that grants access to a wealth of music, is helping create a new, golden age of music. The dollars are returning to the U.S. record business. More people are paying for music. U.S. recorded music revenues in 2016 were the best in seven years. Improving conditions—better services, greater access to mobile broadband, changing consumer sentiment—have guided premium services out of near-obscurity.
Pandora Premium, Pandora’s premium service with on-demand features, arrives just as the industry hit a turning point.