Pandora Focuses on the Mobile Ad Marketplace
As Pandora’s users increasingly listen to their music on the go, the company has followed suit, focusing on mobile ad spending.
More than 70 percent of listening to the Oakland, Calif.-based music service happens on tablets, smart phones, and other various portable devices, which has prompted the company to refocus its marketing efforts.
In March, CEO Joseph Kennedy said that Pandora recieves “at least 42 percent of his company’s advertising revenues” from mobile ad campaigns, writes ClickZ‘s Christopher Heine.
In one year, the site saw a 300 percent increase in ad revenue, growing from $25 to $100 million. Local and national companies work with Pandora, which offers audio, video, and display ads.
The industry will start to see more and more businesses going mobile, since consumers are headed that way. S
ince the iPad was launched in 2010, it has sold 10 million units, and by 2016, the annual sales of smart phones will hit 122 billion units. Along with social media advertising, it’s the next logical step for companies.