When it comes to music, millennials like it new and they like it now. Numerous streaming and recommendation services have sprung up in response to younger consumers' auditory desires.
Five lead the market.
"Pandora has a dominant position, followed by Spotify," noted Ted Marzilli, CEO of research firm YouGov BrandIndex. "It leads its peers in brand awareness. It also leads the pack in both ad awareness and word of mouth, indicating that the brand is investing to support the service and that consumers are talking more about Pandora than any of its rivals."
Marzilli noted that among its peers, Pandora's main competition comes from Spotify, but other services are on millennials' radars and could strategically improve their standing.