Web-based streaming radio service Pandora is going head-to-head with terrestrial radio stations in the St. Louis advertising market, and the Oakland, Calif.-based company has already landed several high-profile local customers.
Pandora, which began its push into local advertising in 2011 and moved into the St. Louis market in March, now has a presence in 30 cities nationwide. In St. Louis, companies advertising on Pandora include Barnes-Jewish Hospital, St. Louis University and Panera Bread Co.
Pandora isn’t stopping there. The company, which currently has three employees in the St. Louis region, is looking for office space in the area to ramp up to as many as eight local employees.
Analysts say the local approach by Pandora, which has 72.7 million active monthly users but has yet to post a profit, could muddle the sales picture for traditional radio stations in their pursuit of market share in the $17 billion U.S. radio market.