Pandora Media Inc (NYSE:P) is going to start streaming political ads to users based on their music choices, according to The Wall Street Journal. Pandora is going to match election results based on ZIP code with musical preferences of Pandora users in the same ZIP code.
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Pandora Media Inc (NYSE:P) has reported their Q4 results. The company reported their biggest quarter of profit since going public, which means that their new advertising engine is working well. Pandora’s stock is taking a bit of a beating though. The stock is trading at over 10% less than the closing price in after-hours trading. Pandora’s first-quarter guidance will have a wider loss than expected. Pandora CEO Brian McAndrews said that the company is going to aggressively invest on building a larger audience this year.
Pandora has updated their iOS app to support an alarm clock feature. Now you can wake up to a specific Pandora station instead of having to worry about picking a ring tone or MP3 from your phone’s hard drive. This feature also makes a great alternative to an FM station played by that little box on your nightstand. The way it works is by turning the alarm on within the Pandora app and setting the Pandora station. You can also set a wake up time and snooze time. After that, just leave the Pandora app open. You have to leave the iPhone plugged in and Pandora has to be kept open on the screen instead of minimizing it.
IAC/InterActiveCorp (NASDAQ:IACI) subsidiary About.com has hired Brian Colbert as their first chief revenue officer. Colbert was previously the VP of mobile ad sales at music streaming company Pandora. Colbert will help About.com integrate content marketing and automated ad buying into the website.
Brian McAndrews has been named as the new CEO of Pandora. McAndrews used to work as an executive at aQuantive and Microsoft Corporation. He will be replacing Joe Kennedy, who announced that he would be stepping down six months ago. McAndrews’ position as CEO is effective immediately.
Pandora Media Inc (NYSE:P) CFO Mike Herring said in the company’s earnings call that they will start allowing unlimited listening through mobile devices again. The company introduced a 40-hour per month limit in place for free listening on mobile devices back in February. Pandora put the cap in place due to an increase of royalty rates.
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Pandora Media Inc (NYSE:P) shares jumped around 6.5% today and closed up to $20.34 (up 2.47%) after receiving an upgrade from Goldman Sachs’ Heath Terry. Terry upgraded Pandora Media Inc (NYSE:P) to “buy” with a $27 price target.