Tesla co-founder Elon Musk knows a good idea when he sees one. During a question and answer session with investors earlier this month, Musk hinted at the possibility of Tesla creating a streaming service designed specifically for drivers. Musk then insinuated that the American automaker has already begun dabbling in the music industry.
In just the past few months, many companies have shown a renewed interest in streaming. Providers like Apple Music and Pandora have constantly been searching for the best deals for music and artists alike. Tesla is not an unlikely organization to get involved in the streaming industry, but its approach may be revolutionary. The company has set its sights on potentially pairing music and transportation.
The company has been basking in the rumors lately, refusing to deny any links between its car and prospective streaming services. Musk recently spoke out on the possibility of partnering playlists with certain cars and/or drivers. Will vehicles be smart enough to recognize what music to play before ever requested? Musk said an official announcement on the company’s music endeavor will be made later this year.
Tesla has recently ignited chatter over several of its future plans. The company has talked about creating a network of tunnels to help traffic flow better. It has also sparked rumors about its idea for the colonization of Mars. While the streaming service idea seems more practical, it could be a tough sell with so many competitors already established. Spotify boasts more than 50 million subscribers, yet reported net losses. Jay-Z’s service, Tidal has struggled to acquire subscribers altogether.
Many details surrounding Tesla’s new venture are yet to be disclosed. Some experts wonder if the streaming service would only be available to Tesla owners. If that is the case, Musk and company might really limit their reach and overall revenue. Can Tesla succeed in a streaming market that so many companies have failed to conquer?
Musk, the 45-year-old billionaire, has been with Tesla Inc since its birth. Alongside a group of founders including Marc Tarpenning and Martin Eberhard, Musk helped make Tesla the premier automaker it is today. The company has ramped up its production since 2015, with a record number of sales expected this year. Known for its innovation, Tesla would not surprise consumers at all if it were to enter the streaming industry.