“We have the audience to massively disrupt this market,” says Pandora Chair/CEO Joe Kennedy.
The key is to make Pandora as easy an ad buy as traditional radio, Kennedy told Wall Street analysts Wednesday during Pandora’s earnings call. A big part of making inroads in local and national ad buys is third-party audience measurement.
Pandora had been self-reporting listening and recently announced a deal with Triton Digital for audience measurement.
Triton is using Average Quarter-Hour statistics in its client reports along with its Webcast Metrics service, making its reports closer to what advertisers and their agencies are used to seeing when planning buys on traditional radio. With the Triton deal in place, Kennedy says the company can move beyond the audience measurement issue.
Pandora averaged more than 50 million active listeners a month in the first quarter. They generated more than 3 billion listening hours across multiple platforms — desktop, auto, consumer electronics and mobile devices.
Total first quarter revenues totaled $80.8 million. That compares to $51 million for the same period a year ago. The company reported a net loss of 12 cents a share in Q1.