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February 09, 2016 9:05 AM ET

Internet Software and Services

Company Overview of Pandora Media, Inc.

Company Overview

Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy catalogs, as well as offers Pandora One, a paid subscription service to listeners. It also sells audio, display, and video advertising to advertisers for delivery on computer, mobile, and other connected device platforms. As of December 31, 2014, the company had approximately 250 million registered users; and 81.5 million active users. Pandora Media, Inc. was founded in 2000 and is headquartered in Oakland, California.

2101 Webster Street

Suite 1650

Oakland, CA 94612

United States

Founded in 2000

1,414 Employees

Phone:

510-451-4100

Fax:

510-451-4286

Key Executives for Pandora Media, Inc.

Chairman, Chief Executive Officer and President
Age: 56
Total Annual Compensation: $955.0K
Chief Financial Officer and Executive Vice President
Age: 46
Total Annual Compensation: $564.3K
Chief Strategy Officer
Age: 43
Total Annual Compensation: $457.5K
Chief Product Officer
Age: 40
Total Annual Compensation: $162.9K
General Counsel and Corporate Secretary
Age: 51
Total Annual Compensation: $101.9K
Compensation as of Fiscal Year 2014.

Pandora Media, Inc. Key Developments

Pandora Media, Inc. Presents at Citi Global Internet, Media and Telecommunications Conference, Jan-06-2016 02:00 PM

Pandora Media, Inc. Presents at Citi Global Internet, Media and Telecommunications Conference, Jan-06-2016 02:00 PM. Venue: The Bellagio Hotel, 3600 Las Vegas Blvd, Las Vegas, NV 89109, United States. Speakers: Michael S. Herring, Chief Financial Officer and Executive Vice President.

Pandora Signs Licensing Agreements with ASCAP and BMI

Pandora and ASCAP and BMI announced the signing of two separate multi-year licensing agreements for their combined catalogs of more than 20 million musical works. These deals create business benefits for Pandora, while modernizing compensation in the U.S. for ASCAP and BMI songwriters and publishers. In connection with the signing of the BMI agreement, Pandora has agreed to withdraw its appeal of the May 2015 order in the recent BMI rate case. While the specific terms of both multi-year agreements are confidential, for each deal, the respective parties worked together to build an innovative approach to public performance licensing. The deals allow both ASCAP and BMI to further their goal of delivering improved performance royalties for their songwriters and publishers, while Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company's product offering over time. The public performance royalties Pandora also pays to rights holders of master recordings are not affected by this agreement.

Warner/Chappell Music and Pandora Sign Licensing Agreement

Pandora announced a multi-year licensing agreement for Warner/Chappell Music's catalog of musical works. This direct publishing deal creates business benefits for Pandora, while modernizing compensation for Warner/Chappell Music and its songwriters in the U.S. While specific terms of the multi-year agreement are confidential, the companies worked together to build an innovative approach to publisher economics. The deal allows Warner/Chappell Music to obtain its goal of delivering improved performance royalties for its songwriters, while Pandora will benefit from greater rate certainty and the ability to add new flexibility to the company's product offering over time. The royalties paid by Pandora to sound recording owners are not affected by this agreement.

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