July 12, 2011
Tuesday during its first investor conference call, Pandora announced it has 100 million registered users and 36 million monthly active users. "More than 100 million people have registered to listen to Pandora's free personalized radio service across hundreds of consumer electronic devices including computers, smart phones, TVs, set-top boxes, alarm clocks, tablets and car dashboards. On a monthly basis, 36 million listeners access Pandora across these multiple platforms as Pandora continues to increase its share of the radio listening market."
During the Company's first Analyst Day, Pandora's CEO President Joe Kennedy said "Pandora is redefining radio, where 80 percent of all music listening occurs. Pandora ended 2010 with 2.3 percent market share of all radio listening in the United States. Six months later, Pandora has increased its market share to 3.6 percent of all radio listening in the United States."
Clear Channel is about two months away from becoming a direct competitor with Pandora, offering listeners a chance to create their own music playlists. A space Pandora has been the leader in for quite some time now. The event begins at at 8:00 A.M. Pacific Time. After faltering a bit immediately after going public, Pandora's stock has been on a steady climb since a low of $13.26 back in mid June.
(7/12/2011 10:05:53 AM)
The ability to create your own playlist is a far cry from Pandora's Music Genome algorithm. CC's iHeart will most likely open them up to content fees from the major labels exactly the same as Pandora's--gives Pandora a huge opportunity to sue for rate parity vs terrestrial radio.
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