On The Heels Of Solid Financials, Pandora Targets Radio's Advertising Dollars
November 23, 2011 at 3:53 AM (PT)
If you aren't taking PANDORA seriously as a competitor for both audience and revenue, be aware -- that's exactly how PANDORA sees itself. FORBES reports, "Already a large online radio destination, PANDORA is moving aggressively into local advertising by taking on local radio stations. The company considers itself one of the largest local radio stations in each local market compared to traditional terrestrial radio with 4.3% of total U.S. radio listening in the quarter."
"We've now moved into a position of one of the largest radio stations in each of our markets effectively and typically the largest among the (18-35-year-old) demographic," said PANDORA CEO JOE KENNEDY in a conference call with analysts. "We have the platform to go to local advertisers and say, 'Hey, this is a place you should be and need to be.'"
KENNEDY's remarks came as part of reporting the company's quarterly earnings (NET NEWS 11/22).
With the 2012 elections expected to generate plenty of advertising dollars, PANDORA is planning to be in that mix. Discussing their targeted demographic information, KENNEDY said, "That creates an opportunity for highly a targeted product we think is uniquely a good fit for political marketers."