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Sunday, July 26, 2015

Pandora's Local Revenue Explodes

Pandora's Local Revenue Explodes
Jul 23rd 2015, 20:52
This is the number that may concern radio managers, where Pandora is coming directly at radio for its revenue dollars. The local sales team Pandora now has in place is nearly double the size it was in 2013, in 38 markets, managing 7,000 accounts. Local ad revenue grew 67% to nearly $60 million, compared to Q2 2014. Now local makes up 26% of Pandora's total ad revenue. Pandora CEO Brian McAndrews said, "Our advertising investments, particularly in local, are paying off. This quarter, local ad revenue reached an all-time high, driving record RPMs." Pandora also claims it now has 9.47% of all U.S. Radio listening, which is slightly lower than Q1 and up from 8.9% in Q2 of 2014. There is no way to verify Pandora's claim of 9.47%