In his first earnings call since taking over, CEO Roger Lynch confirmed that Pandora's outdated tech for advertisers has resulted in slowed growth for the last quarter. While subscription revenues have jumped 50% year on year to $84m, ad revenues remained flat at 1% ($276m). "We know we need to invest in ad tech," said Lynch. "If you’re a $300mm advertiser or a $300m0m advertiser, our [sales] process is the same." Lynch said Pandora will invest in products that automate sales and optimise ads more quickly, transact programmatically and better measure ROI for advertisers.
In his first earnings call since taking over, CEO Roger Lynch confirmed that Pandora's outdated tech for advertisers has resulted in slowed growth for the last quarter. While subscription revenues have jumped 50% year on year to $84m, ad revenues remained flat at 1% ($276m). "We know we need to invest in ad tech," said Lynch. "If you’re a $30m advertiser or a $300m advertiser, our [sales] process is the same." Lynch said Pandora will invest in products that automate sales and optimise ads more quickly, transact programmatically and better measure ROI for advertisers.