Pandora now has more than 150 million registered users, and more than two thirds of that number has listened on a smartphone or tablet. More than 70 percent of all listening to Pandora occurs on a mobile device.
To that end, mobile revenues grew from $25 million in 2011 to $100 million in 2012 for the most listened to online radio platform in the US. That puts them second only to Google in terms of mobile advertising revenues, according to a recent press release. This is a good response from Pandora to Wall Street analysts who have been skeptical of the company’s ability to monetize its mobile ad inventory.
Pandora also noted that they are now included in the dashboard of 48 models of cars, and have partnerships with 25 brands of autos and auto aftermarket devices.
Pandora’s mobile strategy has been a key component of their growth – they were early into the iTunes app store and experienced enormous popularity from the beginning that continues today as a mobile platform. With more than 70% of their listening occurring on mobile, their ability to monetize that listening is critical. $100 million sounds like they are on the right path..