Pandora Lands Deal With Warner Music Group

Pandora Media Inc. has landed a licensing deal with the third of the "big three" music labels Thursday, one of the final steps for the company's planned on-demand streaming service.

The online-radio pioneer announced a direct licensing deal with Warner Music Group on Thursday, two days after announcing similar agreements with Sony Corp.'s SNE, Sony Music and Vivendi SA's Universal Music Group, as well as the independent collective Merlin Network.

The deals, which allow the company to stream music on-demand in the United States, are crucial for Pandora's plans to offer a streaming service similar to Spotify and Apple Music.

Pandora is known for its online-radio offering, but is looking to expand and find greater revenue streams;