Pandora Acquires Digital Audio Ad Tech Firm AdsWizz

RADIO ONLINE | Thursday, March 22, 2018

Pandora

Streaming service Pandora will acquire AdsWizz and its digital audio ad technology for $145 million in a combination of cash and stock. The addition upgrades Pandora's ad tech capabilities, and provides its advertisers with greater audience reach. With digital audio advertising growing 42% year-over-year, according to the IAB, the combined offering of Pandora and AdsWizz will capitalize on this trend. AdsWizz is one of the few ad tech firms that is completely dedicated to digital audio, serving some of the largest players in the industry.

"Since I joined Pandora six months ago, I have highlighted ad tech as a key area of investment for us. Today we took an important step to advance that priority and accelerate our product roadmap," said Pandora CEO Roger Lynch. "With our scale in audio advertising and AdsWizz's tech expertise, we will create the largest digital audio advertising ecosystem, better serving global publishers and advertisers - while improving Pandora's own monetization capabilities."

Once fully integrated, advertisers will be able to transact through AdsWizz's marketplace across Pandora and other audio publishers. Pandora will support the growth of AdsWizz's core business and invest in technology development that serves all constituents.

"For the last ten years, our mission at AdsWizz has been to enable the global monetization of digital audio by building innovative advertising technologies for music streaming services, digital broadcasters and podcasters. We believe in providing value to all stakeholders - brands, publishers and listeners - through engaging and well-targeted advertising experiences," said AdsWizz CEO Alexis van de Wyer. "Now is the time to combine forces with Pandora, one of the leaders and pioneers in digital audio, and accelerate our ability to provide solutions that meet the increasingly sophisticated needs of advertisers and digital audiences."