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Pandora CEO announces new products for the fall

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Pandora's 'one stop shop' for music

Pandora will release new products in the fall, co-founder and CEO Tim Westergren announced Monday on CNBC's "Squawk Alley."

Pandora plans to incorporate live performances, discover features and subscription services into the app. Westergren also noted that the company will improve how users are able to build playlists.

Westergren said the music-streaming service will be more interactive than in previous years.

"We're not going to do a 'me, too' product," Westergren said. "It's going to be a very intuitive, personalized experience that takes advantage of all we know about you as a listener to make a more interactive, easy-to-use and intuitive as the radio product."

Westergren's announcement comes after Pandora's move toward more impactful advertising. This past month, Pandora announced its visual ad experience, which is aimed at giving its users more control over the ads they see.

"One of the ways we lose listeners right now is because they cannot listen to a song on-demand on Pandora, and they want to do that," Westergren said. "We want to fill that hole."