Online Media Sites Look to Capitalize on $4B Election Ad Market (P)
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With the election year coming up and presidential candidates already traveling the nation in an attempt to get their names and ideas out, online social media sites are doing what they can to retrieve some of those advertising profits. One online company who has found a way to make it more convenient this voting season is digital music provider Pandora Media (NYSE: P).
Pandora announced plans for a feature which will allow candidates ads to only broadcast in the region which they are running for, and only to voters who maybe interested in a local law. The company will use zip code information which was originally obtained when the user signed up to sort the ads.
The new program will essentially help make ads more relevant for voters and more efficient for the candidates running.
With the total political ad market expected to reach $4 billion next year, Pandora is not the only online media site looking to "get theirs." The well known Twitter is also targeting candidate’s pockets. The online media company is now offering politically-focused promoted Tweets.
Analysts believe candidates will continue to use television commercials for a majority of the advertising.
Other online media companies that maybe looking to cash in on the $4 billion market include Facebook and LinkedIn (Nasdaq: LNKD). Managers at online media companies are looking to earn revenue in every way possible as many have recently gone public or announced plans to go public. Also, a majority of online media companies business plans do not indicate a profitable year until a few more years of operations and growth.
Pandora announced plans for a feature which will allow candidates ads to only broadcast in the region which they are running for, and only to voters who maybe interested in a local law. The company will use zip code information which was originally obtained when the user signed up to sort the ads.
The new program will essentially help make ads more relevant for voters and more efficient for the candidates running.
With the total political ad market expected to reach $4 billion next year, Pandora is not the only online media site looking to "get theirs." The well known Twitter is also targeting candidate’s pockets. The online media company is now offering politically-focused promoted Tweets.
Analysts believe candidates will continue to use television commercials for a majority of the advertising.
Other online media companies that maybe looking to cash in on the $4 billion market include Facebook and LinkedIn (Nasdaq: LNKD). Managers at online media companies are looking to earn revenue in every way possible as many have recently gone public or announced plans to go public. Also, a majority of online media companies business plans do not indicate a profitable year until a few more years of operations and growth.
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