When companies are going through shifts in their business and financial strains, one of the first areas where budgets are cut is typically in marketing and branding. This is often times a mistake. Sure, let’s put even less emphasis on why people or companies should buy your product, service.
Although Pandora had a rough 2017, I wondered if the company would back away from their annual SXSW activation. Looks like they’re not as plans for their return to SXSW emerged, making it their seventh year in Austin.
Music streaming continues to get more competitive, especially with Apple’s rather quick climb in subscriber numbers and Spotify’s recent IPO. Last year Pandora had to cut their losses and sell Ticketfly to Eventbrite for $200 million after it’s $450 million acquisition in 2014. Then they announced they were moving operations from high-rent Oakland to lower-rent and tax rate Atlanta, which accompanied by a 5% reduction in workforce and a $480 million cash infusion from SiriusXM.
Pandora’s stock took a beating during that time, but the radio-streaming service had reason to celebrate last month when their Q4 2017 financials were released, showing their year-over-year (YOY) Q4 subscription revenue increased 63% $97.7 million and YOY subscriber numbers were up by 25%.
Check out some of the artists who are playing at our #PandoraSXSW stage in 11 days!! Listen to @JadeBirdMusic, @walkerhayes, @kelelam and more on the SXSW station and get excited for Austin! https://t.co/w0JVqKstH1pic.twitter.com/vtVhGlyl11
— Pandora (@pandoramusic) March 2, 2018
The Pandora Backyard will return March 13-15 to its annual location adjacent to The Gatsby (708 E 6th Street) and the same sponsor, SIMPLE Mobile, along with other “great sponsor activations and giveaways.” Badge-free folks can attend the daytime showcases with badges required for the evening shows. A few artists featured on the Kaffeine Buzz SXSW 2018 playlist, Nathaniel Rateliff and the Night Sweats, Amy Shark, Beach Slang, and Wallows, are part of the Pandora line up already announced.
For the full SXSW 2018 schedule, go HERE.