Pandora said to back in takeover talks with SiriusXM

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Pandora said to back in takeover talks with SiriusXM
SiriusXM may not be done with its ambitions to take over Pandora. The Liberty Media-backed satellite radio giant is in active discussions about making a bid for the beleaguered online radio streaming service, the New York Post reported Wednesday. SiriusXM has shown interest before in a possible acquisition of Pandora and recently resumed talks with Pandora's banks over the size of a potential offer, sources told the newspaper. (CNET News)
 
Pandora is laying off 5% of its employees
Pandora is pink-slipping about 5 percent of its workforce, a move the streaming-music company said will help it save $45 million annually. According to Pandora, the restructuring will shift employee resources to focus on ad-tech and audience development efforts and will combine certain roles. Pandora also announced plans to expand its presence and workforce in Atlanta, a region that has lower costs than the company’s headquarters in Oakland, Calif. (Variety)
 

Pandora takes aim at Spotify with programmatic audio ads
Pandora said it will now offer its audio inventory programmatically through popular demand-side platforms such as MediaMath, The Trade Desk and AdsWizz. Pandora is the last of the three major digital music streaming platforms to offer audio ads through automation, but the company says it brings a significantly larger audience to the table. The move also comes at a time when digital audio is capturing more ad dollars compared to previous years.(Ad Age)
 
Pandora shares surge as Q4 subscription revenue climbs 63%
Pandora reported mixed financial results for the fourth quarter of 2017, but its shares jumped more than 9 percent after it reported a substantial growth in subscription revenue. The company reported a 63 percent increase in subscription revenue, bringing its yearly total to $97.7 million. It also reported 5.48 million subscribers, up 25 percent year over year, and CFO Naveen Chopra said on an earnings call that 300,000 subscribers were added in the fourth quarter.(Variety)
 
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