Posted by Jeff Adelson-Yan (@jeffadelsonyan)
In the past year, Pandora’s revenue from mobile ads has increased 300 percent – music to their ears! How did they achieve this you wonder? Pandora followed the music notes to mobile. One article revealed the following recent statistics about the Internet music company.
The company, based out of Oakland, California, said more than 70 percent of streamed music takes place on user tablets, smartphones, and other Internet-connected devices like high-tech refrigerators. Additionally, two-thirds of the 150 million registered users have streamed music from the digital radio giant on their mobile device.
Pandora CEO, Joseph Kennedy, revealed during the company’s March earnings call regarding 2012 fiscal year that mobile ad sales generated approximately 42 percent of advertising revenues. During the past year, the ad revenue from mobile increased 300 percent, from $25 million to $100 million.
Kennedy said based on eMarketer data, he believed Pandora “achieved more mobile ad revenue last year than any entity other than Google.” The company’s web and mobile marketing ad units include video, display, and audio for both local and national marketers.
Other recently released Pandora stats for April 2012:
• One-third of registered users streamed – approximately 51.2 million registered users
• 34 million active listeners
• Total hours listened increased 87 percent compared to April 2011