Pandora remains focused on the U.S., where it...
Pandora remains focused on the U.S., where it continues to see a “huge opportunity for growth,” CEO Brian McAndrews told a stockholders meeting webcast from Oakland Wednesday. The company is “considering other countries over time,” said McAndrews. But “there are…
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challenges to be worked out in terms of figuring out what are the best countries, the best opportunities and making sure that we figure out what the royalty structures are” there, he said. Europe and other markets are “not an immediate opportunity” for Pandora, just a “long-term” one, he said. Pandora’s service is in Australia and New Zealand. It has more than 1.6 million registered listeners there and also has started selling advertising in those countries, said McAndrews. Pandora has invested some money on marketing, mostly on the Internet, including on search engines, he said. Pandora has about 3.4 million paying subscribers out of about 76 million monthly users that listen, said McAndrews. Pandora users listened to the service for a combined 1.7 billion hours in May, up 28 percent from May 2013, it said in a news release Wednesday (http://bit.ly/1nPGdSx). Pandora had a 9.1 percent share of all U.S. radio listening last month, up from 7.3 percent a year ago, it said. Active listeners grew 9 percent to 77 million as of May 31, it said.