Pandora Raises Rates and CTO Tom Conrad Steps Down In Wake Of ASCAP Trial
(UPDATED) Pandora's been quite busy of late. Last week they emerged from ASCAP vs. Pandora with what many consider a draw. Yesterday CTO Tom Conrad not only stepped down into an advisory role but Pandora also announced a rate hike. While plenty remains in flux, Pandora seems to be settling into place for the next phase of struggle.
Last week ASCAP vs. Pandora wrapped up with Pandora's rates unchanged. Pandora wanted them lower, ASCAP wanted them higher and so some call it a draw. However, for many in the music industry, the outcome has been viewed as a loss for songwriters.
Pandora Raises Ad-free Streaming Rates
Yesterday Pandora announced a monthly rate hike from $3.99 to $4.99 with an end to annual subscriptions.
However Pandora is showing love for those already subscribed, either monthly or annually, by continuing their subscriptions at $3.99 per month. Note that ongoing subscribers won't see rate hikes "at this time."
This rate hike is said to be due to the rising costs of delivering the service.
Pandora also notes that of their 250 million registered users around 3.3 million of them are paid subscribers.
CTO Tom Conrad Steps Down
Tom Conrad also posted his goodbyes yesterday.
After 10 years with Pandora he's "transitioning to an advisor role." Former VP of Engineering Chris Martin is the new CTO.
Conrad mentions other job shifts in his letter as well as sharing his appreciation for a "group of men and woman that are without question the most talented, intelligent, thoughtful and hardworking team I’ve ever had the pleasure to work with."
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