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New Models of Doing Business: Pandora Radio

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New Models of Doing Business: Pandora Radio
New Models Of Doing Business: Pandora Radio As if the music industry has not seen enough change in recent years, Pandora Radio has started yet another music revolution. This time, however, the revolution is not about how the music is stored and collected (LP/CD/MP3 transformation), or how music is purchased (Record Stores/ iTunes transformation), but how we actually listen to music. Pandora Radio has created an amazing technology, which allows users to create and customize their own radio stations that automatically play new and unique songs that cater exactly to the users tastes and interests. Pandora has created a radio station that never plays that bad or annoying song. With Pandora, the user will never have to turn that proverbial dial ever again. Pandora Radio is an internet radio station that is doing business in an entirely new way, and all by harnessing self-service, disintermediation, mass customization, and high technology. What makes Pandora Radio different from traditional radio conglomerates such as Clear Channel, the largest owner of AM, FM, and XM radio stations in America, is that listeners of Pandora are able to customize what they are listening to in real-time (Loeb). Pandora utilizes the technology of the Music Genome Project, a technology that can identify and classify over 2,000 musical focus traits such as rhythm syncopation, key tonalities, vocal and instrumental harmonies, and instrumental complexity (Pandora.com). The process of building out a customized station works like this: Initially, a station is set by specifying an artist or song. Each song played thereafter can be responded to with favorable (thumbs up) or unfavorable (thumbs down) buttons. These inputs help tailor the station to the users favorite music. Songs similar to those earning thumbs up reviews will be played more, songs getting thumbs down reviews will be stopped immediately, eventually Pandora only songs that are sonically similar to the previous songs you found


Cited: Andersen, Kurt. "The 2010 Time 100." Time. 29 Apr. 2011. Web. 23 Feb. 2011. . Baldwin, Claire. "Groupon, Pandora Met This Week with IPO Bankers." Reuters. 13 Jan. 2011. Web. 23 Feb. 2011. . Intruders. "The Story of Pandora so Far from Founder Tim Westergren." Intruders.tv. 11 Feb. 2008. Web. 23 Feb. 2011. . Loeb, Thomas. "Watson and the Way Artificial Intelligence Has Changed Our Lives." Pinggers. 11 Feb. 2011. Web. 23 Feb. 2011. . Wall Street Journal. "Pandora Tunes up for IPO, Looks to Raise $100M." The Wall Street Journal. 11 Feb. 2011. Web. 23 Feb. 2011. . Yarow, Jay. "Pandora Was Saved By The IPhone, Now It 's Thinking IPO." Business Insider. 8 Mar. 2010. Web. 23 Feb. 2011. .
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