Pandora is the leader in internet radio in the United States, offering a
personalized experience for each of our listeners wherever and whenever they
want to listen to radio on a wide range of smartphones, tablets, traditional
computers, car audio systems and a range of other internet-connected devices.
The majority of our listener hours occur on mobile devices, with the majority of
our revenue generated from advertising on these devices. We have pioneered a new
form of radio�one that uses intrinsic qualities of music to create stations
initially and then adapt playlists in real-time based on the individual feedback
of each listener. We offer local and national advertisers an opportunity to
deliver targeted messages to our listeners using a combination of audio, display
and video advertisements.