OTR Global analyst Michael Foster zoned in on the digital radio firm’s new programmatic buying platform for advertisers but came away with some less-than-glowing conclusions.
Suggesting that the platform has resulted in “tepid buyer enthusiasm”, Foster included quotes from anonymous sources, including brands who had tried out the ad platform.
“We were approached earlier this year to test out Pandora’s private exchange. It has boosted both CTRs and conversion rates,” said one source.
“However, what we can do with it is fairly limited, and total volume is still miniscule compared to Facebook or Google, so that has limited our spend on it.”
Other sources expressed “disappointment” that the programmatic platform was visual only and did not cover audio advertisements.
MBW reported earlier this year that Facebook now has more than ten times the users of Pandora and Spotify combined.
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