First of all, I would like to thank the KTE consulting group
for their great presentation on our company. As KTE consulting group said,
other future of Internet radio depends on the decision we make now and we need
to make it quick. I was very surprised about the 5th option about
the music store that they have recommended. KTE consulting group even gave us
few pointers about how we should fund for the venture. And given their argument,
I have to say that they sold me on that idea.
Before making any critical decisions, I would like to
recommend to my other C-level executives’ one more possibility. Even though, 5th
option of opening a music store is a great idea, it does not mean we only have
to pick one option. I believe that 5th option is a great option
because we can still have the other four options open. And my recommendation to
my other C-level executives’ is to have a “freemium” model, which provides a
limited but free service to all users, and also offer a premium-priced
value-added membership. I believe this popular business model among Web
start-ups will help us bring in the extra consistent revenue that we need
without making the users turn away from us. I believe that “freemium” model and
music store options can help our company “Pandora” to become one of the strongest
companies in the music industry.
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