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Transcript of PANDORA
Tim Westergren (Chief Officer & Founder)
Found Pandora in Jan. 2000
Accomplished musician and record producer
Joe Kenney (Chief Executive Officer & President)
Joined in 2004
Pandora's resident pop music junkie
Tom Conrad (Chief Technical Officer)
Leads product management, user interface design, software development, and network operations Leadership Team Where did the name come from? Meaning of "Pandora" -- Greek Mythology
- "giver of all"
Pandora received the gift of music from Apollo
Pandora made it their mission to "reward the musically curious among us with a never-ending experience of music discovery"
The Music Genome Project a personalized radio experience No one else has music tastes exactly like yours…
So, to deliver a great radio experience to each and every listener requires an incredibly deep understanding of music.
Pandora developed the Music Genome Project, a sophisticated taxonomy of musical information.
It captures the complex musical DNA of songs using a large team of highly-trained musicians.
Characteristics It represents 8 years of analysis by Pandora’s trained team of musicologists.
Each song is analyzed using up to 400 distinct musical characteristics by a trained music analyst.
Captures the musical identity of each song as well as the significant qualities that are relevant to understanding the musical preferences of listeners.
The Musical Genome Project’s database is updated on a continual basis with the latest releases and emerging artists.
Pandora recognizes and responds to each individuals’ tastes.
ANALYSIS Strengths Ability to find "harder to find" artists you never knew existed but will probably like
Customization -- the ability to create up to 100 different stations
Strong music variety for users
Two subscription plans -- a free one including advertising and a fee-based one without ads.
Versatility -- Pandora on the web / iPhone / music system at home
Song on a particular station will start to get repetitive
Pandora listeners are limited to only 6 skips per hour per station
You cannot fast forward or rewind
Weaknesses Opportunities Applications supported by iPhone and Blackberry
Increasingly tech-savvy population
Popularity of online music sources
Advertising opportunities on Pandora's website
Threats Traditional radio stations
Free music downloading interfaces
Musicovery.com and slacker radio
Sirius/XM Radio Revenue and Costs Revenue in 2009: $40 million (double what the company took in the previous year)
Advertisements -- video, audio, and visual
Pandora is committed to offering advertising that is short, tasteful, and infrequent
Pandora only offers advertising comparable to that offered in mainstream media sources elsewhere
Links are available within their website that allows customers to purchase music from iTunes or Amazon and Pandora receives a small commission from these sales
Pandora's streaming music service is associated with significant costs including music royalties paid on every song played Mission Statement "to play only music you'll love" Strong Ethics Pandora strongly believes that artists and songwriters deserve to be compensated whenever their music is played.
They pay licensing fees to organizations that collect statutory royalties on behalf of featured performing artists, song writers, and record labels.
They pay royalties for every single song played, each time any listener hears it What is Pandora? Pandora is a new form of personalized internet radio designed to help customers discover new music and enjoy music they already know. Any Questions? Thank You!