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5	5	= Overview =
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7		-Pandora is the world’s most powerful music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music—whether through earbuds, car speakers or home audio/video equipment. The company's vision is to be the definitive source of music discovery and enjoyment for billions of users. Pandora is available as an ad-supported service, a radio subscription service called Pandora Plus and an on-demand subscription service called Pandora Premium. The majority of its listener hours occur on mobile devices, with the majority of its revenue generated from advertising on its ad-supported service on these devices. The company offer both local and national advertisers the opportunity to deliver targeted messages to its listeners using a combination of audio, display and video advertisements. The company also generate revenue from subscriptions to Pandora Plus and Pandora Premium. Founded by musicians, Pandora also empowers artists with valuable data and tools to help grow their careers and connect with their fans.
	7	+Pandora (P) is the world’s most powerful music discovery platform, offering a personalized experience for each of its listeners wherever and whenever they want to listen to music—whether through earbuds, car speakers or home audio/video equipment. The company's vision is to be the definitive source of music discovery and enjoyment for billions of users. Pandora is available as an ad-supported service, a radio subscription service called Pandora Plus and an on-demand subscription service called Pandora Premium. The majority of its listener hours occur on mobile devices, with the majority of its revenue generated from advertising on its ad-supported service on these devices. The company offer both local and national advertisers the opportunity to deliver targeted messages to its listeners using a combination of audio, display and video advertisements. The company also generate revenue from subscriptions to Pandora Plus and Pandora Premium. Founded by musicians, Pandora also empowers artists with valuable data and tools to help grow their careers and connect with their fans.{{footnote}}https://fintel.io/doc/sec-p-pandora-media-10q-2018-may-04-17962{{/footnote}}
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9	9	At the heart of its service is its set of proprietary personalization technologies, including the Music Genome Project and its playlist generating algorithms. The Music Genome Project is a database of over 1,500,000 uniquely analyzed songs from over 200,000 artists, spanning over 660 genres and sub-genres, which its team of trained musicologists has developed one song at a time by evaluating and cataloging each song’s particular attributes. The Music Genome Project database is a subset of its full catalog available to be played. When a listener enters a single song, artist, comedian or genre to start a station, the Pandora service instantly generates a station that plays music or comedy the company think that listener will enjoy. Over time, its service has evolved by using data science to further tailor the listener experience based on listener reactions to the recordings the company pick. Listeners also have the ability to add variety to and rename stations, which further allows for the personalization of its service. Pandora Media has integrated this technology into Pandora Premium, giving listeners the ability to search and play any track or album as well as offering unique playlist features tailored to each listener's distinct preferences.
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29	29	Refer to Note 6 "Dispositions" in the Notes to Condensed Consolidated Financial Statements for further details on the Ticketfly disposition.
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31		-==== Recent Events ====
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33	33	Convertible Redeemable Preferred Stock
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43	43	On June 27, 2017, the company announced a plan to discontinue business activities in Australia and New Zealand. The related restructuring charges in the nine months ended September 30, 2017 primarily relate to a reduction of headcount of approximately 50 employees, which resulted in employee severance and benefits costs offset by a credit related to non-cash stock-based compensation expense reversals for unvested equity awards. The dissolution of the Australia and New Zealand business operations was substantially completed in the three months ended September 30, 2017. These restructuring charges did not have a material impact on its financial statements.
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45	45	= References =
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