Tuesday, October 30, 2012

Pandora Media Inc (NYSE:P) to launch more apps for mobile users

Streaming Internet radio service provider Pandora Media Inc(NYSE:P) has intensified its presence in the mobile segment by introducing more features to its mobile applications.

Subscribers to the service will soon be able to see information about the artists and lyrics making it easier for them to enjoy the music and also share them with friends.

The company is extending the features available to its web users to its mobile users as well. At present it is targeting Android and Apple devices.

The application meant for iPhones will be released on Monday while that for Androids will follow, according to the company.

Next year it plans to release an application for Microsoft Windows Phone 8 devices, where subscribers can listen to music for a year without being interrupted by ads.

As with most web-based services and platforms these days, more and more customers are shifting to mobile devices to access them.

Pandora is no different as mobile use of Pandora's streaming service is growing quickly. In the quarter that ended in July, mobile listening nearly doubled from a year earlier and made up more than 75 percent of its 3.3 billion listener hours.

Pandora offers free internet radio and it has 175 million registered users, including 58 million who use it in a given month. It claims a 73 percent share of the market for free online radio.

It relies on advertising revenue for its cash needs. It is now focussing on generating revenue from mobile ads.

The company will be reporting its third quarter results in late November.

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