Pandora - additional information
Pandora Internet Radio is a part of the Music Genome Project that provides a music streaming service as well as music recommendations. The Music Genome Project uses 450 attributes to describe a song and an algorithm that organizes a wide range of music. Currently, Pandora is only available to users in the United States, Australia, and New Zealand.
Since its launch in January 2000, Pandora Internet Radio has vastly increased its number of active users. As of December 31, 2016, Pandora boasted 81 million active users. In comparison, Spotify hit the 100 million user mark in June 2016, although this streaming service is also available in most of Europe and South America, parts of Australasia, and various other countries in the world.
Through the Music Genome Project, Pandora does not focus on genres of music, but interprets qualities of melody, harmony, rhythm, form, composition, and lyrics to determine music recommendations for its users. As a unique source of music, Pandora is used by almost a third of consumers monthly and almost a quarter use it weekly. In recent years, as Pandora has become more successful, the company’s revenue has reflected its broadening market. In the financial year 2016, Pandora’s revenue totaled 1.38 billion U.S. dollars, a figure which has risen sharply on an annual basis since the company’s launch. Pandora currently obtains most of its revenue through advertisement, subscriptions, and directing users to purchase music through Apple and Amazon. In 2016, the company's advertising revenue exceeded one billion U.S. dollars for the first time.