Pandora Agrees To Buy Next Big Sound

(RTTNews) - Pandora (P), the leading Internet radio service, Tuesday said it has agreed to acquire Next Big Sound, a provider of online music analytics, for an undisclosed sum. The deal accelerates Pandora's strategy of harnessing data for the benefit of music makers.

The acquisition will provide Pandora with a powerful analytics tool used by music makers, labels and marketers looking for data and insights about artists and their fans. Launched in 2009, Next Big Sound combines music consumption data into one centralized platform.

Next Big Sound will expand the suite of data-driven products Pandora offers music makers, mainly Pandora's Artist Marketing Platform that offers both Artist Insights as well as Artist Audio Messaging. Next Big Sound's capabilities will complement these offerings, which are designed to help music makers grow their careers.

Next Big Sound's offering will also be strengthened through the addition of Pandora's data on music preferences, patterns and trends.

Pandora's data reflects insights from nearly 80 million monthly active users who have provided over 50 billion thumbs on tracks played. Added to Next Big Sound's current insights, the data set powered by both companies will deliver an unprecedented trove of information to the music industry, Pandora added.

The acquisition will also benefit brands that advertise with Pandora by providin access to insights that can help them identify artists to partner with and measure the reach and impact they achieve through those partnerships.