Pandora to Handle SoundCloud's U.S. Ad Sales
Pandora will begin handling U.S. advertising sales for fellow streaming platform SoundCloud in 2019, the two companies announced on Wednesday. The agreement will allow SoundCloud to tap into Pandora's direct sales capabilities, sea of data and recently launched audio marketplace to allow brands and advertisers the ability to purchase its U.S. ad inventory directly.
The companies said that they have more than 100 million unduplicated listeners between them in the U.S. alone, and only 13 percent audience overlap. "Pandora and SoundCloud’s combined audience offering creates the clear market leader for brands to reach U.S. music fans," said Kerry Trainor, CEO of SoundCloud. "Through this partnership, we gain access to Pandora’s world-class sales team and capabilities to connect more brands with our young, highly engaged users who know what’s next in music is first on SoundCloud."
The agreement also expands SoundCloud's existing relationship with digital ad platform AdsWizz, which Pandora purchased earlier this year for $66.3 million.
"This partnership is a fantastic match between Pandora's industry-leading ability to monetize digital audio and SoundCloud's large audience and vibrant community of U.S. listeners," said Roger Lynch, CEO of Pandora. "Investments we’ve been making in our ad capabilities, including the recent acquisition of AdsWizz, further solidify Pandora’s commitment to help publishers monetize the rapidly growing digital audio market."