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Pandora matches rivals with family subscription

May 30, 2018 6:41 PM ETPandora Media (P) StockAAPL, P, SPOTBy: Jason Aycock, SA News Editor22 Comments
  • Pandora's (NYSE:P) latest subscription service is set to help it compete against tough rivals in Apple (NASDAQ:AAPL) and Spotify (NYSE:SPOT), its CEO says.
  • Subscriptions are "the fastest growing part of our business," Roger Lynch tells CNBC in discussing the rollout of the Pandora Premium Family plan.
  • That move catches the company up somewhat to existing family sub offerings from competitors, after losing a number of users to Apple and Spotify.
  • The new plan lets up to six family members share music for $14.99/month, and Lynch says it has a "twist" in a feature called "Our Soundtrack."
  • Pandora shares gained 3% during the market session; they're down 2.8% after hours.

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