OAKLAND, Calif.--(BUSINESS WIRE)--Pandora (NYSE:P) today announced that Video Plus is now available to all advertisers. The new ad product enables brands to pay only when users watch 15 seconds of a video ad. In exchange for watching the ad, listeners unlock features that are typically only available with a subscription to Pandora Plus or Pandora Premium: the ability to skip more songs and replay tracks. A number of top brands, including T-Mobile, are mixing Video Plus into their media plans beginning today.
Pandora began testing Video Plus last fall. Results prove it is effective at reaching highly-engaged consumers in sought-after demos and aligns brands with positive listening experiences:
- The majority of users who watch these ads were between the ages of 18 and 34 with listeners under the age of 24 three times more likely to opt-in.
- The types of listeners opting-in to these new ads and features are some of Pandora’s most engaged – they listen 57% longer and thumb 65% more.
“The competition for consumer attention is only getting more intense. Brands need high-quality ad solutions that create lasting impressions and resonate with their target audiences,” said John Trimble, chief revenue officer at Pandora. “Video Plus boosts brand awareness, builds loyalty, captures views and promotes deeper interactions with listeners who are significantly more likely to take action.”
Pandora joins a handful of leading publishers that allow brands to pay for ads only when users complete viewing a video (in this case: at the 15-second mark). With the roll-out of Video Plus, advertisers now have the flexibility to buy across a full spectrum of cost types in Pandora’s video ecosystem depending on their goals, including:
- Cost-per-thousand ad impressions (CPM): Video Everywhere / Platform-Specific Video
- Cost-per-15-second-completed-view (CPCV): Video Plus
- Cost-per-engagement (CPE): Sponsored Listening
“We’re always looking for new and innovative tactics to reach and engage with consumers in relevant ways,” said Kari Marshall, vice president of media at T-Mobile. “We’re excited to test Video Plus to deliver our Un-carrier message to Pandora’s very engaged user-base, and the meaningful brand connections we hope it drives as a result.”
Learn more about Video Plus in this blog post.
Pandora is the world’s most powerful music discovery platform – a place where artists find their fans and listeners find music they love. We are driven by a single purpose: unleashing the infinite power of music by connecting artists and fans, whether through earbuds, car speakers, live on stage or anywhere fans want to experience it. Our team of highly trained musicologists analyze hundreds of attributes for each recording which powers our proprietary Music Genome Project®, delivering billions of hours of personalized music tailored to the tastes of each music listener, full of discovery, making artist/fan connections at unprecedented scale. Founded by musicians, Pandora empowers artists with valuable data and tools to help grow their careers and connect with their fans.