People who listen to
The Oakland-based company said Monday that it is rolling out in-car advertising this month to run commercials from brands including BP,
Pandora works in 130 vehicle models -- including nine of the 10 top-selling vehicles -- and 270 after-market automotive devices. The company is trying to take advantage of a big market of motorists. Half of all radio listening takes place while driving, said Pandora, which started partnering with car companies in 2010.
It said its share of the total U.S. radio market increased to 8.6%, from 7.58% in December 2012.
The new numbers indicate that the service's popularity continues to hold up against
JPMorgan analyst Doug Anmuth, who follows Pandora, said the updated numbers are a positive sign for the company. "December metrics are solid and suggest Pandora is holding up well despite increased competition," he wrote in a note to clients.
Shares of Pandora increased more than 14% to $31.49 at the close of trading Monday on Wall Street.