Market Overview

Pandora's Programmatic Audio Marketplace Enters General Availability

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Premium Offering Provides High-Quality Inventory at Scale as Proven
by Successful Campaigns with Gatorade, Sony Pictures and Others

Pandora (NYSE:P), the largest streaming music service in the U.S., today
announced that its audio inventory is now generally available for
programmatic buying, giving advertisers the power to efficiently reach
and engage with the largest set of ad-supported listeners in the U.S.
Audio joins Pandora's existing display and video solutions available for
purchase programmatically.

Today's news marks a critical opportunity for advertisers to reach the
largest addressable audience in the streaming audio space. Pandora owns
the largest inventory of digital audio content in the U.S., and 92% of
its audience is ad-supported — more than double the size of its
competition.

"As the largest publisher of digital audio in the U.S., Pandora is
uniquely equipped to meet the evolving needs of marketers now and in the
future," said John Trimble, Chief Revenue Officer of Pandora. "We've
reached a significant tipping point in audio where automation,
voice-activated technology and other innovations are bringing sweeping
changes to the landscape — and as a result, the demand for effective
programmatic audio is booming."

Pandora's audio programmatic solution was released in beta February
2018, and has been leveraged by more than twenty brand partners
including P&G, Gatorade and Sony Pictures. Early results from
programmatic audio promotion showed a significant return on ad spend and
increases to in-store traffic.

"Marketers today can evoke an emotional connection with their audiences
directly through sound," said Gina Hardy, Head of Consumer & Athlete
Engagement, Gatorade. "Thanks to the ability to access Pandora's wealth
of audio inventory, we've been able to tackle some of Gatorade's most
successful campaigns through programmatic buying and use quality audio
ads to connect directly with our listeners while they enjoy the
personalized music they love."

The programmatic audio marketplace is powered by AdsWizz's AudioMax
Supply Side Platform. Pandora's acquisition of AdsWizz
earlier this year further validates Pandora's leadership in ad tech,
making it more ready than ever to serve publishers and brands worldwide.

"Programmatic is a key reach vehicle and bringing digital audio into the
mix is a great way to expand that reach," said Craig Stimmel, who leads
digital partnerships at P&G. "This addition will help take friction out
of the system and enable real time optimization so our brands can more
easily find their consumers while delivering maximum returns."

"Our users are extremely engaged with our content, spending over 24
hours per month listening," said Trimble. "By increasing our
ad-supported offerings we are unlocking additional revenue streams and
increasing Pandora's monetization capabilities."

Read more in the blog post here.

ABOUT PANDORA

Pandora is the world's most powerful music discovery platform – a place
where artists find their fans and listeners find music they love. We are
driven by a single purpose: unleashing the infinite power of music by
connecting artists and fans, whether through earbuds, car speakers, live
on stage or anywhere fans want to experience it. Our team of highly
trained musicologists analyze hundreds of attributes for each recording
which powers our proprietary Music Genome Project®, delivering billions
of hours of personalized music tailored to the tastes of each music
listener, full of discovery, making artist/fan connections at
unprecedented scale. Founded by musicians, Pandora empowers artists with
valuable data and tools to help grow their careers and connect with
their fans.

www.pandora.com
| @pandoramusic
| www.pandoraforbrands.com
| @PandoraBrands
| amp.pandora.com

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