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Wednesday, January 4, 2012

Pandora is still “growing at an extraordinary pace", mostly from "word of mouth"

Pandora The ten-year-old Internet radio company with 100 million-plus registered users now “represents two-thirds of all the Internet radio listening in this country”, says CEO Joe Kennedy at today's Citi Entertainment, Media and Telecommunications Conference in San Francisco. Pandora continues to cite a figure of 4.3% share of radio listening, and says it is working hard to monetize that usership. Its sales effort is at both the national and local level, and it is hiring sellers. As for listening, Kennedy says “we’ve seen higher and higher levels of retention…we’ve seen the average amount of time per average listener grow.” Although Pandora sees opportunities in spoken word content, it believes that "music will always be the cornerstone", and it continues to tweak its algorithms to produce the right "next song."

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