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Press release from PR Newswire

Pandora Records Local Radio Market Growth

Monday, January 23, 2012

Pandora Records Local Radio Market Growth08:30 EST Monday, January 23, 2012Full Year 2011 Data Reveals Massive Audience and Time Spent Listening Increases in Top Local Radio MarketsOAKLAND, Calif., Jan. 23, 2012 /PRNewswire/ -- Pandora (NYSE: P), the leading personalized radio service, today announced its 2011 full year* listenership results and that it has now reached an Average Quarter Hour (AQH) rating of 1.0 or more among adults 18-34 in the top radio markets. The full year listenership results revealed AQH and cumulative audience (cume) increases in each of the top local radio markets in the country based on listener data from January 6, 2011 through January 4, 2012.(Logo: http://photos.prnewswire.com/prnh/20110615/SF20192LOGO)During that period, Pandora experienced 50 to 100 percent growth in AQH ratings in all of the top radio markets for adults ages 18-34 and 18-49, with the largest AQH gains of 100 percent in the New York, Atlanta, Dallas-Ft. Worth and Boston metro survey areas (MSA).  An AQH rating of 1.0 means an average of one percent of a target population listened to Pandora for at least five minutes within a quarter hour window between 6.00 a.m. and midnight.Pandora posted 44 to 75 percent cume increases in each local market with the Atlanta and Dallas-Ft. Worth areas posting the largest cume gains. Cume is the weekly measure of the total number of unique Pandora listeners in each market.During the holiday season in December 2011, the ratings revealed that among adults ages 18-34, Pandora now has an AQH rating of 1.0 in all of the top local radio markets and the weekly cume reached more than 22 percent in each of the top local radio metro survey areas.Pandora Chief Revenue Officer John Trimble said, "Our 2011 listenership results demonstrate our local radio market penetration and enable advertisers to fully understand the scope and scale of Pandora's audience." Edison Research analyzed Pandora data to determine exactly how many listeners tuned in, how long each listened, and then converted that into Average Quarter Hour and weekly cume metrics using industry accepted methodology for metro survey areas. For this analysis, Edison did not include Pandora One subscribers who are not served any advertisements. To see the full methodology please visit: http://www.edisonresearch.com/home/archives/2012/01/pandora-local-market-analysis-by-edison-research-methodology.php* 2011 full year is defined as January 6, 2011 to January 4, 2012. AQH RatingAdults 18-34(Mon-Sun 6 a.m. -Midnight)   Jan2011   Holiday2011  FullYearIncreaseNew York0.51.0100%Los Angeles0.71.271.4%Chicago0.61.066.6%San Francisco0.71.271.4%Dallas-Ft. Worth0.61.183.3%Houston0.61.066.6%Philadelphia0.61.066.6%Washington, DC0.71.271.4%Atlanta0.51.0100%Boston0.61.183.3%Portland0.81.250% Cume RatingAdults 18-34(Mon-Sun 6 a.m. -Midnight)   Jan2011   Holiday2011  FullYearIncreaseNew York13.422.265.6%Los Angeles16.827.261.9%Chicago14.323.866.4%San Francisco18.027.854.4%Dallas-Ft. Worth14.425.275%Houston14.924.665.1%Philadelphia14.824.867.5%Washington, DC18.427.750.5%Atlanta13.423.373.8%Boston16.124.854%Portland18.126.244.7% AQH RatingAdults 18-49(Mon-Sun 6 a.m. -Midnight)   Jan2011   Holiday2011  FullYearIncreaseNew York0.40.775%Los Angeles0.50.980%Chicago0.40.775%San Francisco0.50.980%Dallas-Ft. Worth0.40.8100%Houston0.40.775%Philadelphia0.40.775%Washington, DC0.50.860%Atlanta0.40.775%Boston0.40.8100%Portland0.60.950% Cume RatingAdults 18-49(Mon-Sun 6 a.m. -Midnight)   Jan2011   Holiday2011  FullYearIncreaseNew York8.915.270.7%Los Angeles11.318.866.3%Chicago9.716.671.1%San Francisco12.319.155.2%Dallas-Ft. Worth10.318.074.7%Houston10.417.467.3%Philadelphia9.816.972.4%Washington, DC12.419.154%Atlanta9.616.875%Boston10.617.060.3%Portland13.019.146.9% ABOUT PANDORAPandora (NYSE: P) gives people music they love anytime, anywhere, through connected devices. (OK, we've added comedy as well so we're also up for playing some jokes you'll love.) Personalized stations launch instantly with the input of a single "seed" - a favorite artist, song or genre. The Music Genome Project®, a deeply detailed hand -built musical taxonomy, powers the personalization of Pandora® internet radio by using musicological "DNA" and constant listener feedback to craft personalized stations from a growing collection of hundreds of thousands of recordings. Tens of millions of people in the U.S. turn on Pandora to hear music they love.  www.pandora.com SOURCE Pandora Media, Inc.For further information: Francisca Fanucchi, press@pandora.com, +1-510-344-7735, or Deborah Roth, press@pandora.com, +1-510-842-7928, both of Pandora Communications and Public Relations, or Dominic Paschel, VP, Corporate Finance and Investor Relations, investor@pandora.com, +1-510-842-6960