Pandora has partnered with AdReady, a display ad platform that allows partners to build display ads for new advertisers using ready made templates, and then serve, target and optimize those banners on the AdReady platform. This opens up a new basket of revenue for the ever innovative Pandora.
“As we grow our user base, it makes sense to identify ways to scale our business and provide access for every size advertiser, from the biggest brands to the specialty and neighborhood shops who want to get their marketing messages out to their best prospects,” said John Trimble, chief revenue officer for Pandora. “Now we are able to offer broader, multi-platform marketing solutions with deep targeting and campaign optimization to businesses that previously didn’t have an affordable advertising solution.”
By partnering with AdReady, a pioneering technology company that makes display advertising accessible to advertisers of any size, Pandora’s new sales team will be able to develop creative assets, traffic and manage campaigns for clients that it previously could not cost effectively service. Now marketers of all sizes such as bands, summer festivals, and local colleges, will be able to leverage the effectiveness and reach of targeted display ad campaigns across Pandora’s growing audience.
“In this current climate of immediate accessibility, the team at Pandora steps it up and delivers what you want, when you need it,” said Kathleen Pittman, president of Green Bottle Media LLC, a full-service media planning and buying service. “With virtually no turn-around time at all, the folks at Pandora were able to present multiple, well-thought-out solutions for a multi-market, regional client — a popular chain of burrito eateries in Texas, implement the plan seamlessly, and report promptly back to us.” The results of the campaign on Pandora generated more than three times the click through rate than any other online placement for Green Bottle Media’s fourth quarter 2009 campaign for this client.
This is a great platform that many broadcast groups would find useful. AdReady works with ESPN, Univision and The New York Times as well as Pandora.
Update: I’ve been hearing from some sources that the report that all of the companies involved in the lawsuit may not have been involved in this settlement, as was reported by Inside Radio on 12/30. That report was my only source of information on the settlement.
Key broadcasters have settled a patent lawsuit that claimed they were infringing on a patent owned by Aldav for streaming ad-insertion. Aldav and its subsidiary Acacia are companies that specialize in buying up patents and pursuing licensing agreements – often through litigation. Earlier this year they filed suit against a long list of key broadcast companies including CBS Radio, Citadel, Clear Channel, Cox Radio, Cumulus, Entercom, Gap Broadcasting, Radio One, Regent, Saga, Univision.
While the Acacia website shows news of settlements with Cox and Regent, Inside Radio (which is owned by Clear Channel) reports that a settlement has been reached with all of the companies, without any money changing hands. IR reports that just before Christmas the companies and Aldav agreed to a dismissal of the suits. Broadcasters had asked that the court declare the patent invalid because Aldav had failed to assert its rights for years and its patent is unenforceable. The case was set for arbitration in February.