OAKLAND, Calif., Aug. 22, 2013 /PRNewswire/ -- Pandora (NYSE: P), the leading internet radio service, today announced it will remove the 40-hour-per-month limit on free mobile listening effective September 1, 2013.
"We're pleased to once again maximize free listening for everyone on Pandora," said Tim Westergren, Pandora's founder. "The more than 70 million listeners that tune in every month will now have more time to hear the music they love, and thousands of working artists will reach more fans."
Pandora has quickly become the largest radio station in nearly every major market in America by delivering the best personalized radio experience across a broad array of connected devices. Pandora is available through more than 1,000 consumer electronic devices and will be installed in approximately one-third of all new cars sold in the United States in 2013.
Pandora is able to make this change thanks to the rapid progress of its mobile advertising. According to eMarketer, Pandora is now the third largest generator of mobile ad revenue, behind only Google and Facebook.
The limit on free mobile listening was introduced in March 2013 to manage rapidly increasing royalty costs. While in place, this affected fewer than four percent of total monthly active listeners. The company continues to utilize multiple additional levers to carefully and effectively manage its content cost.
Pandora (NYSE: P) gives people music and comedy they love anytime, anywhere, through connected devices. Personalized stations launch instantly with the input of a single "seed" - a favorite artist, song, or genre. The Music Genome Project®, a deeply detailed hand-built musical taxonomy, powers the personalization of Pandora® internet radio by using musicological "DNA" and constant listener feedback to craft personalized stations from a growing collection of more than one million tracks. Tens of millions of people turn on Pandora every month to hear music they love. www.pandora.com.
Will Valentine, Pandora Communications and Public Relations, email@example.com, (510) 842-6996 or Dominic Paschel, Corporate Finance and Investor Relations, firstname.lastname@example.org, (510) 842-6960