Pandora (P) Active as Spotify Introduces New Features (AAPL) (GOOG)
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(Updated - December 11, 2013 10:39 AM EST)
Pandora (NYSE: P) is at session lows as Spotify CEO Daniel Ek introduced new features for his music platform during a conference call today.
Ek said Spotify has launched a free music streaming service for Apple (Nasdaq: AAPL) iOS and Google (Nasdaq: GOOG) Android tablets. The free service is also available on mobile devices, reaffirming speculation hitting the market on December 5th.
According to Ek, the free service will allow users to create playlists, while there are also
The free service will also play ads every
Users will also be able to use a shuffle feature, which allows for track skipping.
As noted earlier in December, Spotify last reported having 6 million paying subs and 20 million active users. The numbers compare with 72.4 million active users for Pandora as of November 2013.
Shares of Pandora are down 1.8 percent on heavier volume Wednesday.
Pandora (NYSE: P) is at session lows as Spotify CEO Daniel Ek introduced new features for his music platform during a conference call today.
Ek said Spotify has launched a free music streaming service for Apple (Nasdaq: AAPL) iOS and Google (Nasdaq: GOOG) Android tablets. The free service is also available on mobile devices, reaffirming speculation hitting the market on December 5th.
According to Ek, the free service will allow users to create playlists, while there are also
pre-createdplaylists available. The playlists won't have a limit on the number of tracks for users.
The free service will also play ads every
coupleof songs and will air fewer ads than commercial radio, Ek said.
Users will also be able to use a shuffle feature, which allows for track skipping.
As noted earlier in December, Spotify last reported having 6 million paying subs and 20 million active users. The numbers compare with 72.4 million active users for Pandora as of November 2013.
Shares of Pandora are down 1.8 percent on heavier volume Wednesday.
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