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Pandora’s New Source of Ad Revenue-In Car Advertising

 (Image source:marketsmithinc.com)

Shares of Pandora Media Inc (NYSE:P) are continuing to pop in the New Year. Year-to-day, shares are up nearly 19 percent. Yesterday, the internet radio provider outlined a plan that will surely send shares higher in 2014. Pandora will start offering in-car advertising. Advertisers will be given 15 to 30 second audio spots, which will appear on automobiles equipped with Pandora. The initiative will help boost Pandora’s ad revenues. Four major brands (Ford Motor Company (NYSE:F), Yum! Brands, Inc. (NYSE:YUM), State Farm Insurance, BP plc (ADR) (NYSE:BP)) have already signed up for the services. More companies are likely to follow suite. Shares are currently up 3 percent.