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Pandora

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Submitted By ghleton100
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Business Strategy:

Pandora created and provides an easily accessible Internet radio platform personalized to and by individual listeners. Launched in 2000, Pandora Media created a way for individuals to stream their favorite songs without purchasing them. With over 900,000 songs, Pandora takes the likes and dislikes of each individual consumer into account to make customized stations of exactly what they want to hear.
Pandora is focused on Mobile Monetization which is a two prong approach. Digital Strategy and Radio Strategy are the two main areas of focus. The Digital strategy is focused on reaching its customers through the online and mobile devices where the Radio Strategy is trying to reach more consumers through the Interactive and Measureable Audio Products. Traditional broadcast radio currently stands at approximately $73 per 1,000 listener hours, where the mobile platform only stood at $20, which shows the most room for improvement. The mobile platform had increased by 50% since last year and is forecasted to continue to climb at a rapid rate. Close to 70% of all active listeners, now come from the mobile platform which shows transition of today’s society. Pandora has over 200 million registered users and more than 76 million active users. Pandora's major source of revenue are through advertisements it serves on its mobile and web platform. Currently Pandora serves less than one minute of audio ads per hour of listening. This guarantees greater consumer interaction and creates a longer lasting impact of the advertisement. Because of Pandora’s selectivity, it allows advertisers to reach individual listeners based on their age, gender, zip code and music preference.
In 2010, Pandora joined hands with Pioneer, to provide internet radio in cars. Companies like General Motors, Hyundai and Toyota have plans to launch vehicles with new systems that will stream

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