Music

Led Zeppelin headlines Spotify’s free mobile service

Spotify said it was setting up a stairway to streaming Wednesday.

The service will now be available for free on mobile devices, and will add streaming music from classic rock band Led Zeppelin for the first time.

The news had investors bolting from rival streaming music service Pandora. The stock dipped 6 percent at 1.05 p.m., to $27.48.

Anyone with an Apple or an Android device can curate their own music free of charge. Spotify had charged $10 for mobile access or free of charge via desktop.

Spotify had 24 million active users and 6 million paying subscribers. Pandora had 72.4 million active listeners. Pandora launched its free of charge mobile service in 2008.

Spotify is late to the free mobile party, but is hoping to spur paid subscriptions over the holiday period.

The streaming music space is looking increasingly crowded. Jimmy Iovine’s Beats Music service is launching in January 2014 and iTunes is ramping up its iRadio service, hiring new ad executives.