Pandora sings for web radio advertisers - San Francisco Business Times:

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Its service also lays the groundworki for fresh marketing initiatives that couldbenefit non-mainstream musicians, said Tim founder and chief strategy Some 85 percent of advertisers are doingt repeat business with Pandora, which recently predicted that it could be profitabld next year. This year’xs revenues are projected to doubls toabout $40 million, Westergren said. The servicer has 27 million registered users, 10 millioh active a month, and is adding 50,0000 to 60,000 a day. “We’re the biggest radio in almosg everymarket already, and we’re doubling in size so we’ve been hiring fast and furiously to builfd up local ad salespeople,” Westergren said.
Pandorza can target ads by demographics, genre, artist and ZIP It can guarantee a specific numbe r of ad impressions because it delivers the impressionas only when a user has just taken an such as givinga thumbs-up to approve a song The company this month began offeringt an ad-free premium servicer for $36 a year. Sant a Barbara-based home music system manufacturer rana 30-dayh ad campaign targeting exclusivel y IPhone users from mid-March to mid-April on and found the click-througb rate to be extraordinary. “Far and away, it was the most successfup campaign we’ve ever conducted,” said Sonosw spokesman Thomas Meyer.
Westergren said he decided to makehis company’e revenue public because advertiser had repeatedly questioned the company’s health. Pandora has 135 30 of them hired last a dozenthis year, and another dozen expected to be addef by the end of 2009. Most employeesz are in the Oakland headquarters, and the companyt has offices inNew York, Los Chicago, Detroit and Boston. One reasonn Westergren feels so optimistic is thata two-yearr battle with record companies and artistss over how much Internet radio service s should pay in royalties may be over.
, which collects royalties for copyright owners and is negotiatinbg for therecord labels, announced “a potential agreement” with webcasters. Pandora has been rapidly adopted by IPhonee and Blackberryusers — 5 million in 11 months, abour 1 million after two montha respectively. Now that Pandora is solid, Westergreh wants to develop tools tohelp non-mainstream musiciana get money. For example, Pandora’s user preference data can be plotted on a map for an artist to decide whersto tour. Pandora could also send emailw to fans alerting them to an upcomingt show and offering tickets or merchandisefor sale.
Seventy percentr of the 650,000 songsw in Pandora’s library are from artists not signed to arecorr label, he said. “We give access and promotiobn to this huge sea of reallg talented but otherwiseinvisible artists,” Westergren said.