The new Pandora logos which are now being rolled out for the app and on the web. Pandora

Music streaming service Pandora just announced its first major rebranding by unveiling a new company logo. The move is considered to be the company’s first major step to further compete with the likes of Spotify and Apple Music.

Pandora has been around since 2000, and the company has evolved and adapted throughout the years. This past September, it launched Pandora Plus, the paid tier and ad-free version of the company’s personalized internet radio which costs $4.99 a month. Currently, Pandora has 78 million active users with 3.8 million paying subscribers.

“To celebrate that milestone, we’re unveiling a new brand to enhance your pandora experience and help bring your music to life,” the company said on its blog.

The new Pandora "P" logo. Pandora

The redesigned logo of Pandora now comes with a bold and vibrant font that’s more in line with today’s aesthetics. The company said that the new look “embraces the dynamic range of sound and color” which helps visualize the energy and emotion of the artists and of the listeners. Pandora added that the new logo will be implemented on its apps, while a fresh new look will also be rolled out to its web and other services over the year.

The rebrand signals Pandora’s effort to better compete with its rivals. The company may have 3.8 million paying subscribers, but that is easily eclipsed by Spotify’s 40 million paying users and Apple Music’s 17 million. Pandora plans to increase the number of its paying subscribers to 11 million by 2020 by launching a full-fledged on-demand music streaming service.

Pandora first announced plans for the new service back in November 2015 when it acquired Rdio for $75 million. The latest rumor going around is that the new on-demand service will launch sometime later this year and will cost $10 a month — matching the price of its major rivals, according to CNET.

Most recently, Pandora updated its iOS app to be integrated with Apple’s iMessage. The update allows users to send tracks to their friends within an iMessage conversation. The recipient will be able to listen to a 30-second preview of the track, and there’s also an option to start a Pandora radio station based on the received track, according to The Verge. Pandora also released its own pack of iMessage stickers which users can send to friends.

Sharing Pandora tracks on iMessage. Pandora