As Stock Slips, Pandora Ends 40-Hour Cap on Mobile Users

Mobile users can stream free.

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    Pandora has lifted the 40-hour cap on unpaid subscribers to its popular music service.

    Mobile users of Bay Area-based streaming Internet music service Pandora Media, Inc. will no longer be subjected to a 40-hour cap.

    The news comes as the music service provider's stock slipped 9 percent in pre-market trading on Friday, according to USA Today.

    The stock is still performing well and has tripled in value since November, the newspaper reported.

    Meanwhile, as a crowd of Internet radio competitors vie for spots in the market, Pandora no longer requires a 99 cent fee from users for streaming more than 40 hours a month.

    Pandora said in February that mounting royalty costs from music companies meant that the small fee was necessary.

    The company's revenue is up 58 percent from a year ago, at $179 million.