{"id":13344,"date":"2013-11-11T11:56:27","date_gmt":"2013-11-11T16:56:27","guid":{"rendered":"https:\/\/bejone03.expressions.syr.edu\/trf235\/?p=13344"},"modified":"2013-11-20T16:20:01","modified_gmt":"2013-11-20T21:20:01","slug":"pandora","status":"publish","type":"post","link":"https:\/\/bejone03.expressions.syr.edu\/trf235\/2013\/11\/11\/pandora\/","title":{"rendered":"Pandora"},"content":{"rendered":"
By Jamie Neukrug<\/pre>\n
 <\/p>\n
\"The<\/a>
The Pandora Media Inc. Logo [1]<\/a><\/p><\/div>Pandora Media Inc.<\/span><\/strong><\/p>\n
2101 Webster Street
\n16th Floor
\nOakland, CA 94612
\nPhone Number: (510) 451 4100
\nURL: http:\/\/www.pandora.com<\/a>
\nTwitter Handle: pandora_radio<\/p>\n
Key Executives<\/strong><\/span><\/p>\n
\"la-et-ct-pandora-brian-mcandrews-ceo-20130911-001\"[2]<\/a>\u00a0Brian McAndrews<\/a>–CEO, President, & Chairman<\/p>\n
\"tim-westergren\"\u00a0[3]<\/a>Tim Westergren<\/a>–Chief Strategy Officer,Founder<\/p>\n
\"PANDORA[4]<\/a>\u00a0Tom Conrad<\/a>–Chief Technology Officer<\/p>\n
\"Unknown\"[5]<\/a>\u00a0Mike Herring<\/a>–Chief Financial Officer<\/p>\n
\"images\"
Pandora Radio [6]<\/a><\/p><\/div>\n
<\/strong>A Brief History<\/strong><\/span><\/p>\n
In January 2000, Tim Westergren founded a company called Savage Beast Technologies, based on his idea to develop a music genome. This technology was used to develop playlists based on individual consumer preferences. Westergren originally marketed these music recommendation service businesses without much success. In 2004, he shifted his target audiences from businesses to individual users and changed the name to Pandora. Listenership increased sharply. A 2007 ruling on increased royalty prices threatened to ruin Pandora, but the issue was resolved in 2009. The introduction of the iPhone app that allowed people to stream music was a game changer. [7]<\/a><\/p>\n
Financial Information<\/strong><\/span><\/p>\n
<\/strong>Pandora earns the majority of its revenue (87%, 87%, and 88% in the last three years) through computer and mobile based advertising sales. The company offers a free subscription plan which generates revenue through these advertisements, as well as Pandora One<\/a>, which offers a commercial free option to subscribers for a fee. The ability to reach audiences through mobile and other “on-the-go” devices has increased profits significantly. Total revenue has grown from $137.8 million in 2011 to $427.1 million in 2013. Pandora Media Inc.’s common stock on the NASDAQ market,\u00a0NYSE<\/a>, is currently valued at $28.45, a 1.01% decrease from its previous close, as it continues to fluctuate. Based on the latest report, Pandora has over 70% share of internet radio within the top 20 stations in the United States.\u00a0[8]<\/a><\/p>\n
The\u00a0Numbers<\/a>\u00a0<\/strong>[8]<\/a><\/p>\n\n\n\n\n\n\n\n
Year<\/td>\nTotal Revenue (in millions):<\/td>\nListener Hours (in billions):<\/td>\nActive Users (in millions):<\/td>\n<\/tr>\n
2011<\/td>\n$137,800<\/td>\n3.83<\/td>\n29.3<\/td>\n<\/tr>\n
2012<\/td>\n$274,340<\/td>\n8.23<\/td>\n47.6<\/td>\n<\/tr>\n
2013<\/td>\n$427,145<\/td>\n14.01<\/td>\n65.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
About Pandora<\/strong><\/span><\/p>\n
\"Pandora's
Pandora’s Business Model [9]<\/a><\/p><\/div>By allowing its subscribers to dictate the type of songs and comedy they want to hear, Pandora has become internet radio’s market leader in the United States. Listener playlists are developed based on their feedback from a library of songs that have been categorized based on hundreds of musical qualities. Since its inception, Pandora has grown to have 200,000,000 registered users, over 1,000,000 songs in its collection, over 4 billion stations created, and has expanded internationally to Australia and New Zealand. Listeners can mix up to 100 stations, customizing them to their liking. They can also create profiles and connect with others based on mutual preferences. In addition to computers, Pandora has expanded to mobile “apps” on smartphones such as Blackberry<\/a>, Android<\/a>, the iPhone<\/a>, and other interactive devices including the Android tablets, iPad, and\u00a0Amazon Kindle Fire<\/a>, and the\u00a0Nook<\/a>. Pandora made deals with car companies, including BMW and Buick, and can now be accessed in vehicles.\u00a0[10]<\/a>\u00a0[11]<\/a><\/p>\n
\"chart-of-the-day-internet-only-audio-providers-june-2010\"
Pandora Media vs. Other Internet Audio Providers\u00a0[12]<\/a><\/p><\/div>
\"pandora1\"
The Music Genome Project sets Pandora apart from competition.\u00a0[13]<\/a><\/p><\/div>The Music Genome Project\u00ae<\/strong><\/p>\n
Pandora’s executive team recognizes the need to accommodate the individual musical tastes of subscribers. The Music Genome Project\u00ae is the most intricate system ever created to choose music based on its characteristics. Trained musicologists thoroughly analyze songs based on attributes such as voice, tone, genre, and rhythm. The library includes everything from the week’s Top 40 to classic hits from past decades. The project is often compared to human DNA because every detail is diverse. Musicologists utilize the data stored in the Music Genome Project\u00ae to create a satisfying, unique listening experience for all.\u00a0[14]<\/a><\/p>\n
\"pandora-presents-celine-dion-20131030-000713-237\"
Celine Dion performed in NYC in October.\u00a0[15]<\/a><\/p><\/div>Pandora Presents<\/strong><\/p>\n
“Pandora Presents” is Pandora’s series of live concerts that allow listeners to connect with their favorite artists. Originating in 2012, these performances continue to be a successful display of user appreciation and set Pandora apart from competition. Pandora employees personalize it further by using listenership they have identified for specific artists to invite certain users to attend the show.\u00a0[16]<\/a><\/p>\n
During a recent October concert in Los Angeles, recording artist,\u00a0Bridgit Mendler<\/a>, mentioned Pandora’s role in helping to develop her fan base. [17]<\/a>\u00a0Celine Dion<\/a>\u00a0performed in New York City on October 29, 2013, promoting her new album “Loved Me Back to Life.” Past entertainers include Dr. Dog, Walk the Moon, Theophilus London, and other emerging artists.<\/p>\n