Pandora Media Inc (P) Tests ‘Promoted Stations’

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Pandora Media Inc (P) Tests ‘Promoted Stations’
By w:Pandora [Public domain], via Wikimedia Commons

Pandora Media Inc (NYSE:P) is battling against perceptions that its business is running out of carpet. The firm’s been growing for several years, but it’s not managed to turn a consistent profit. With the rise of competitors from companies like Apple Inc. (NASDAQ:AAPL) with established user bases, Pandora needs to show it is set to establish itself or investors will get out. The first step is diversifying revenue, and that may be helped by a move the company announced today.

“Promoted stations” is an advertising idea that Pandora Media Inc (NYSE:P) hopes will bring major brands to its door. According to a release by the company about the new project, big companies like Yum! Brands, Inc. (NYSE:YUM), Taco Bell, Diageo plc (ADR) (NYSE:DEO) Crown Royal and Skechers USA Inc (NYSE:SKX) are helping the music streaming service to launch the ads.