The music streaming wars are heating up and Pandora is suffering the most casualties. The emergence of Apple Music on the streaming scene has had the biggest impact in the market. The new Apple service launched with a three-month free trial period. That period is beginning to end for many listeners, but CEO Tim Cook announced that the service has 6.5 million paying customers. Spotify, the biggest competitor, currently has 20 million paid users. These numbers are all small compared to Pandora’s 78.1 million active listeners, but Pandora is still a free service that relies on advertising to support itself. Pandora recorded a loss of $85.9 million in the third quarter of this year, which coincides with their loss of over one million active listeners. Time will tell which company emerges as the clear cut streaming winner, but as it stands now, Pandora will need to make some changes to stay competitive.
Read the full article here: Pandora Is Losing the Music Streaming War, Throws Shade At Spotify