Profile: Pandora Media Inc (P)
22 May 2017
Pandora Media, Inc. (Pandora), incorporated on October 19, 2010, is a music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music, whether through earbuds, car speakers or live on stage. The Company delivers targeted messages to its listeners using a combination of audio, display and video advertisements. The Company's operating segments include Pandora-Internet Radio Service and Ticketfly. As of December 31, 2016, it provided the Pandora service through two models: advertising-supported service and subscription service-Pandora Plus. The Company's Ticketfly service is a cloud ticketing platform for live events. For the year ended December 31, 2016, the Company streamed 21.96 billion hours of Internet radio. As of December 31, 2016, it had 81 million active users during the prior 30-day period.
Pandora is integrated with connected devices, including automobiles, automotive aftermarket devices and consumer electronic devices. Its advertising-supported service allows listeners to access its music and comedy catalogs and personalized playlist generating system for free across all of its delivery platforms. Pandora Plus includes advertisement-free access, higher quality audio on supported devices and longer timeout-free listening. Pandora Plus includes additional features, such as replays, additional skipping and offline listening. As of December 31, 2016, approximately 24.9 million users have activated Pandora through a native integration in 27 automobile brands and 8 automotive aftermarket manufacturers. The Company operates its ticketing service through its subsidiary, Ticketfly, which is a live events technology company that provides ticketing and marketing software and services for its clients, which are venues and event promoters, across North America. Ticketfly's ticketing, digital marketing and analytics software helps promoters book talent, sell tickets and drive in-venue revenue, while Ticketfly's consumer tools help fans find and purchase tickets to events. Tickets are primarily sold through the Ticketfly platform but are also sold through other channels, such as box offices. For the year ended December 31, 2016, Ticketfly provided ticketing services for approximately 115,000 live events on sale, for which approximately 15.2 million tickets, excluding box office sales, were sold to approximately 5.3 million ticket buyers.
The Company's technologies include the Music Genome Project and its playlist generating algorithms. The Music Genome Project is a database of over 1,000,000 analyzed songs from over 350,000 artists, spanning over 600 genres and sub-genres, which it develops one song at a time by evaluating and cataloging each song's particular attributes. The Company's Comedy Genome Project leverages a technology to that underlying the Music Genome Project, allowing a listener to choose a favorite comedian or a genre as a seed to start a station and then give feedback to personalize that station. As of December 31, 2016, its comedy collection included content from over 3,000 comedians with over 35,000 tracks. It has developed algorithms that determine, which songs play and in what order on each personalized station. The Company has developed a system to ingest ownership information from rightsholders and to match ingested ownership information with the tracks in its catalog for its advertising-supported and subscription services.
The Company has developed various approaches, including its autocomplete station creation feature, which predicts and generates a list of the musical starting points as a listener begins to enter a favorite station, song or artist. The Company has designed Pandora Mobile Streaming, which is a system for streaming content to mobile devices. This system involves a combination of music coding programs that are optimized for mobile devices, as well as algorithms designed to address the intricacies of delivery over mobile network technologies. Its subscription service includes offline listening, which detects when a mobile device has lost its signal and automatically transitions the listener to one of their top recent stations. It has developed Pandora Automotive Protocol, which facilitates the availability of the Pandora service in automobiles. Its Pandora application programming interface (API) provides its services to connected devices throughout the home. The Company has developed a Hyper Text Markup Language (HTML)5 Website called tv.pandora.com that allows users to stream music content on next generation television, game consoles and set top box architectures that support open Web standards. tv.pandora.com features streamlined navigation with controls and displays designed specifically for larger screens. It offers Next Big Sound (NBS) Platform, which provides online music analytics and insights tracking hundreds of thousands of artists around the world. The Company also collects information from and tracks artists' activity on its Pandora Artist Marketing Platform (AMP).
The Company competes with Facebook, Google, Snap, MSN, Yahoo!, Verizon, ABC, CBS, FOX, NBC, The New York Times, the Wall Street Journal, iHeartRadio, Entercom, CBS Radio, Cumulus, Live Nation Entertainment, Tickets.com, AXS, Paciolan, Eventbrite, eTix, Spotify, Apple, Tidal, Slacker, Netflix, Pinterest, Instagram, YouTube, Samsung, SoundCloud, Amazon, Rhapsody, Deezer, LastFM and StubHub.
Pandora Media Inc
2101 Webster St Ste 1650
OAKLAND CA 94612-3015
Company Web Links
- BRIEF-Point72 Asset Management's Steven Cohen reports 5.4 pct passive stake in Pandora Media
- Pandora gets KKR investment; explores strategic alternatives
- UPDATE 1-Pandora gets KKR investment; explores strategic alternatives
- Pandora Media says positioned to evaluate strategic alternatives
- BRIEF-Pandora announces $150 million investment by KKR