“While display and video are great opportunities for Pandora, our point of difference, our game-changer, is the audio ad,” he said. “How do we utilize the audio ad to drive integration with the video platform?”
Aside from audio, Pandora will focus on fine-tuning partnerships with advertisers and agencies to use its listener data for targeting. The platform collects roughly 1 billion listener data points every day.
“We’re getting better at working with partners on how to collaborate and utilize our data,” Trimble said. “We went into the market fairly conservatively last year because we wanted to understand what the advertiser wanted. Now that we have a better sense of what they're looking for, we’ll continue to create partnerships that can tap into the value of our data.”
First announced at an investors’ day in October, Premium is Pandora’s latest bet to boost listener growth, which has stalled at around roughly 80 million listeners since 2014. For a $9.99 monthly subscription fee, listeners will be able to select the music they want to stream, save songs to playlists and listen offline. It’s a pivot from Pandora’s flagship radio product that resembles Rdio, which Pandora acquired in late 2015.