Pandora is nothing new to most people, it’s been around for years, and it’s widely used. While I am still somewhat unfamiliar with Spotify, it seems that Spotify has taken Pandora’s place for a lot of people, but Pandora is still worth talking about. Pandora was one of the first websites of its kind, allowing people to listen to music for free with little to no restriction. It created the market for music websites.
If anyone is unfamiliar with Pandora, it is a website where you can make radio stations based on your musical preferences. You can add artists or songs that you like to the radio stations, and Pandora chooses and plays songs that are aesthetically similar to the ones that you’ve chosen. You can give songs thumbs up or down, and Pandora will learn from that and change the station based on those responses, never again playing a song that you’ve given a thumb down to on that station.
Pandora is monetized through ads and through a freemium model, now, but its monetization strategy when it first began is unclear. The revenue model is nothing unique, but I do think that the business is worth commending for being one of the first in the market. It may not be as customizable as its competitors, such as Spotify, but it still has a huge customer base, largely thanks to it being first on the market.Read More