Pandora takes on Spotify, Apple with new streaming services

Pandora is displayed above a post where it trades on the floor of the New York Stock Exchange, on Oct. 23, 2015. (Richard Drew / AP)

NEW YORK -- Pandora is getting ready to take on Spotify, Apple Music and others with a new, $10 monthly streaming music service, and a cheaper option as well.

The internet radio company is declining to say how much the lower-priced service will cost, but it says both options will launch before the end of the year.

The new subscription service from Pandora will give users more control over which songs they want to hear. On Tuesday, the company announced new licensing deals with Sony Music, Universal Music Group and several independent record labels. It is still in talks with Warner Music Group.

Shares of Pandora Media Inc. are up more than 2 per cent before the opening bell.