Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Pandora Media Inc (NYSE:P) rose by 7.09%. The shares opened at a price of $30.12, which touched the intraday high of $31.94 and headed to a close of $31.56. Around 14.64 million exchanged hands over the trading day and an average volume of 8.99 million shares were traded over a 30 day period. The 52-week low of Pandora Media Inc (NYSE:P) shares is $7.08 and its 52-week high is $31.94. Pandora Media Inc (NYSE:P) has a market capitalization of $6.06 billion.
About the company
Pandora Media Inc (NYSE:P) was incorporated in 2000 January. It is an Internet-radio in the U.S. As of 31st January 2012, the company had more than 125M registered users. Its Music Genome Project & its playlist-generating algorithms are able to predict listener music-preferences, play music-content that is best suited to the tastes of every individual listener & introduce listeners to the kind of music they will love. When a listener enters any single song, artist / genre to start any station, a process that the company calls seeding, the Pandora Media Inc (NYSE:P) service generates a specific station that plays the music it thinks the listener will enjoy. Its revenue is generated from advertising. Pandora Media Inc (NYSE:P) also offers a subscription-service to listeners. Its service allows its listeners to create upto 100 different personalized stations.
The company provides service via two models: The first is -Free Service and the second is Pandora One.
Pandora Media Inc (NYSE:P)’s Free service model is advertising-based & allows listeners to access its music &comedy catalogs & personalized-playlist generating system at no charge, across all the delivery platforms. In 2011 September Pandora Media Inc (NYSE:P) increased its cap to 320-hours of listening / month. Listeners on the other platforms are able to access unlimited hours of free-music and comedy.