Pandora and Warner Music Group Announce Direct Licensing Agreement
16 September 2016 - 6:43AM
Business Wire
Pandora (NYSE:P), the go-to music source for fans and artists,
today announced a direct licensing agreement for recorded music
with Warner Music Group. This agreement enables both companies to
support artists and satisfy the full range of music listening
experiences for consumers.
“Warner has been a tremendous partner to Pandora and we’re
thrilled to expand the relationship in a way that truly supports
both of our businesses and the artists we serve,” said Tim
Westergren, founder and CEO of Pandora. “With this agreement, we’re
on a path to launch the world’s most personal and complete music
experience that our listeners will love.”
“Pandora has built a huge audience with a compelling product and
we’re looking forward to new and enhanced subscription services for
music fans and improved monetization for our artists,” said Ron
Wilcox, Executive Counsel for Business Affairs, Strategic and
Digital Initiatives, Warner Music Group.
Today, more than 78 million users listen over 24 hours per month
to Pandora’s ad-supported and subscription offerings - more than
twice the engagement of all other streaming services. Pandora will
soon deliver the world’s most personal and complete music
experience, while opening up the full power of the platform to
connect artists with their fans at scale and leverage the
promotional offerings of Pandora’s Artist Marketing Platform
(AMP).
The agreement applies to Pandora’s business in the United
States.
ABOUT PANDORA
Pandora is the world's most powerful music discovery platform –
a place where artists find their fans and listeners find music they
love. We are driven by a single purpose: unleashing the infinite
power of music by connecting artists and fans, whether through
earbuds, car speakers, live on stage or anywhere fans want to
experience it. Our team of highly trained musicologists analyze
hundreds of attributes for each recording which powers our
proprietary Music Genome Project®, delivering billions of hours of
personalized music tailored to the tastes of each music listener,
full of discovery, making artist/fan connections at unprecedented
scale. Founded by musicians, Pandora empowers artists with valuable
data and tools to help grow their careers and connect with their
fans.
www.pandora.com | Pandora Blog | Pandora LinkedIn |
@pandora_radio
About Warner Music Group
With its broad roster of new stars and legendary artists, Warner
Music Group is home to a collection of the best-known record labels
in the music industry including Asylum, Atlantic, Big Beat,
Canvasback, East West, Elektra, Erato, FFRR, Fueled by Ramen,
Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Warner
Bros., Warner Classics and Warner Music Nashville, as well as
Warner/Chappell Music, one of the world’s leading music publishers,
with a catalog of more than one million copyrights worldwide.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160915006565/en/
For Pandora:Dominic Paschel, 510-842-6960Corporate
Finance & Investor Relationsinvestor@pandora.comorStephanie
Barnes, 415-722-0883Corporate
Communicationssbarnes@pandora.comorWarner Music GroupJames
Steven, +1 212-275-2213EVP, CommunicationsJames.Steven@wmg.com
Pandora (NYSE:P)
Historical Stock Chart
From Apr 2024 to May 2024
Pandora (NYSE:P)
Historical Stock Chart
From May 2023 to May 2024