In a new generation of music streaming online, Ben Sisaro has published an article in The New York Times questioning just how much people would pay to listen to music.
It was announced that both Amazon and Pandora Media would charge only $5 for their streaming services, challenging both Spotify and Apple Music who respectively charge $10 a month.
Pandora, on one hand, is more of a limited radio stream of songs based off of your personal preferences, while Spotify and Apple music allows you to freely choose what songs you want to hear almost unlimitedly. The question is, would people pay less, for possibly less musical exploration options with Pandora? Or continue to have a greater range of music availability with Spotify or Apple and pay about $120 a year? It may be possible, that if Amazon and Pandora can prove to be equal to, if not better than the competition, consumers may cancel their current subscriptions and opt to save half of what they would normally spend. A lower monthly subscription price would indefinitely bring in more customers for Amazon and Pandora Media as well. The main question is just how much are consumers willing to pay to listen and stream their music online as more companies began to expand, and if successful, would Spotify and Apple lower their prices to bring in a greater revenue?