(Hypebot) – Wall Street was not kind to Pandora this week after the music streamer announced its third straight quarterly loss and a second straight quarter of falling active listenership. Turnaround hopes center on the launch of an on demand music streaming service.
Pandora will unveil its promised $9.99-a-month on-demand music service December 6th at an event in New York. The announcement was made by CEO Tim Westergren during an earnings call.
But Pandora Premium will not launch until early in 2017.
“It will have all the features of Plus, so the rewinding, skipping, offline etc. But it will now include the ability to search and play, the ability to build and share playlists, taking everything offline and many, many more Pandora features that we can’t reveal now for competitive purposes,” said Westergren during the call.