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Transcript of Pandora
The Music Genome Project was the start of Pandora Radio
Tim Westergren, creator of Pandora
What does the customer value?
Convenience: multiple ways to access music
Little to no cost
Limited interruptions due to advertising or talk shows
Opportunity to discover new music with minimal effort
What are the results ?
Fast increasing number of listeners
Increased brand recognition
Rising competition encourages innovations, quality and new ways to reach customers.
What is the Mission?
Pandora's Mission Statement:
"To enrich people’s lives by enabling them to enjoy music they know and discover music they’ll love, anytime, anywhere"
iHeart Radio Mission Statement
"ANYTIME, ANYWHERE, ALWAYS FREE: Take Your Favorite Radio Stations & Music Wherever You Go"
What is the Plan?
Enhance services & customize listening experience
Increase paid listening
Increase advertising profits
Increase car radio advertising
Develop innovative advertising products
Add more international radio stations
Gain exclusivity for music royalties
Increase brand loyalty
Who is the Customer?
Virtually any individual who enjoys music
People who love music and do not want to search for songs
People who spend a lot of time on the go and want mobile listening
Business establishments can also use internet radio
Strong, well known brand with loyal customers
Customizes stations using Music Genome Project
Very easy to use
Has excellent mobile applications for over 100 devices
Integrated with more than 130 vehicle models and 270 automotive aftermarket devices
Expand distribution through car market
Increase paid listening
Use social networks
Develop innovative add products
Increase music purchases through Pandora
Build partnerships with music labels
Change the way we listen to music
Reach people wherever they listen.
Revenue reached 427 M in 2013 (274 M for 2012)
57 % mobile revenue growth from 2012 to 2013
12% active users' growth from 2012 to 2013
75.3 M active users at the end of February, 2014
Already has a brand name awareness (Clear Chanel)
Has a music library 10x larger than Pandora's
Gives access to over 1,500 traditional radio stations
Commercial free (for now)
Offers all-in-one package deal
Popularity of the "Discovery Mode"
Offers 4 specific services: live radio, perfect for, create a station and talk shows and personalities.
Offer "human contact" to their listeners (iHeart radio talk).
Adding radio stations from the outside of US.
ANYTIME, ANYWHERE, ALWAYS FREE - ALL IN ONE
Promotional concert was sold out in less than 10 minutes
Rapidly growing number of listeners.
April 2008- the website launched
Oct 2008- the first app launched for apple
iHeart Anual Music Festival
Is there room in the market for both?
Who would you choose?
The idea started in 2000 and was
launched in 2004
Free "Internet Radio" service
In 2014 had over 200 million registered users
Free, digital radio service. More than
1,500 radio stations to listen to live.
Owned by Clear Channel Broadcasting,
All music custom channels- comparable to
Coadie Diemer Partners. (2012, July). Media Maven. Evolving audio consumption driving internet radio. Retrieved February 2014, from coadiediemer.com.
News: Iheart Radio Station. (n.d.). Retrieved February 2014, from Iheart Radiio Station: http://news.iheart.com/articles/about-iheartradio-390884/welcome-to-iheartradio-6906244/
Press : Pandora. (n.d.). Retrieved February 2014, from Pandora : http://press.pandora.com/phoenix.zhtml?c=251764&p=irol-news&nyo=1
Shih, W., & Halle, T. (2010). Pandora Radio: Fire Unprofitable Customers?