Pandora is close to wrapping up licensing deals with record labels that would allow it to turn its 2015 acquisition of Rdio into a full-fledged, on-demand music streaming product, according to the Wall Street Journal.
The new subscription options, which could arrive as early as next month, will be multi-tiered: A limited $5 plan and a more robust $10 plan. We would be surprised if it stopped there: In earlier interviews with Fast Company, Pandora hinted at a multi-level business model that would aim to monetize "superfans."
Last month, Pandora added concert ticket notifications and sales to its radio app in an attempt to make the most of its earlier acquisition of Ticketfly. As evidenced by Pandora's shopping spree late last year, the product updates will only continue to roll in throughout the year, even if the company is mum about the timing.
"We're incredibly excited about what's ahead," a Pandora spokesperson told Fast Company. "We've been working hard to bring an expanded listening experience to listeners and are on track to do so later this year." JPT