We are always looking for innovative new ways to get the brands we work with out in front of new prospects. One arena that has grown a ton in recent years is the universe of online music streaming through apps and websites like Pandora and Spotify. This world has blown up as of late, with over 100 different services ranging from free to $10, ad supported or not. This article from Time gives a great overview of the top 10 - based on brand awareness - and the differences in their user and song databases and other information.
As mentioned, not all of these services are ad supported. The ones that are - Spotify, Pandora, iHeart Radio, etc. - provide excellent opportunities for brands to target customers where they are: on-the-go on their mobile device. Plus with companion banners it becomes an audio and visual experience for users with brands. Pandora has really figured out the ad experience for users and brands, serving banners only when users interact with the app, limiting audio ad frequency to users, and more. We have partnered with Pandora to support different client initiatives from emergency services at a hospital to the rebranding of a local auto dealership with excellent CTR in the 0.6-1.0% range!
As with most interactive, there is room for innovation with new units and customization. Pandora for example allows for brand-sponsored custom playlists as we mentioned in our post on native advertising. And another idea we hope to use soon leverages Pandora's stored information on users to ease the collection of data for advertisers. Most of these services are willing to work with you if price is right.
Advertising through streaming sites also affords a chance to extend your offline advertising in online channels. With iHeart Radio for example, an advertiser can run in-app and also on one of 850 terrestrial radio stations since iHeartRadio is owned by Clear Channel.
One of the most eye-opening things in this article (besides the fact that there are 102 different services!) is that Pandora only has 1 million songs! As the author notes, that will no doubt catch up with them if they don't change their licensing to expand their library.