NEW YORK (TheStreet) -- Pandora (P - Get Report) investors aren't taking lightly the news of Spotify coming to smartphones and tablets. Shares of the music streaming service are tumbling 5.6% to $27.61.
Spotify is now offering "freemium" access to its streaming services on Apple
(AAPL - Get Report) iOS devices as well as Google's
(GOOG - Get Report) Android smartphones and tablets. For now, tablets will offer the better option as they provide the same freemium experience that Spotify users get from their desktop units.
On smartphones, Spotify is offering a Shuffle service, similar to what is already out there, with Pandora, iTunes Radio and others, but you can listen to artist specific content, as opposed to artist-like content.
Both the tablet experience and the smartphone experience will include ads.
Meanwhile, TheStreet's Rocco Pendola is arguing that since Spotify's new services are already available by other providers, including Rdio and iTunes Radio, the announcement doesn't alter the streaming sector landscape.
P data by YCharts
--Written by Chris Ciaccia in New York>Contact by Email. Follow @Chris_Ciaccia