Pandora, the internet music service, has revealed the first wave of advertisers for its new iPad ad platform. The three are Starbucks, Budweiser and Lexus. Pandora’s advertising service allows companies to target consumers in a robust manner, including age, gender and location. The advertising move by Pandora is part of the company’s long battle with bankruptcy after it was forced to pay higher fees to recording labels for the music it provided. With royalty fees being so extravagant, Pandora was forced to find other ways to make their business model solvent. Advertising is a logical choice and Pandora is making great strides in order to get a better footing in the mobile advertising market. John Trimble, CEO of Pandora, could hardly contain his excitement regarding iPad advertising. “Pandora users already engage with their Pandora application to the tune of eight times an hour, refining their stations or interacting with relevant advertising. We expect that engagement to be in full-force as they experience the appealing and relevant ads playing in concert with their musical experience on the iPad. We’re extremely excited that our newest platform is being utilized to its fullest extent by Starbucks, Lexus, and Budweiser to reach the consumers they want, anytime, anywhere,” he said.
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