Palm Beach, FL 5/24/12 (StreetBeat) -- On Wednesday, Pandora Media Inc (NYSE:P) reported its first quarter earnings and discussed the following topics in its earnings conference call. Here’s what executives shared with analysts and investors.
Douglas Anmuth – JPMorgan: Just wanted to ask two quick things. Just first on the significance of the Triton announcement last week, obviously a good breakthrough here, but can you help us understand if you only have (Triton) for some period of time and you haven’t broken through yet with Arbitron and can you help us understand just how penetrated you can get in the radio market? And then also is there anything that you’re doing different here in terms of the trends that we’re seeing in mobile ads in terms of the audio versus display mix and the number of ads per hour that we’re seeing?
Joe Kennedy – President and CEO: Doug, we don’t see the absence of Arbitron as any significant impediment to our development of this market. Triton is actually out front in terms of Internet radio measurement. They were the first person in the market. Their national Webcast Metrics product is Media Research Council certified and I think it is an absolute perfectly fine solution for us to grow the business on. So we certainly would welcome Arbitron joining the market, but don’t see that as any significant drag on our development of the radio advertising business. In terms of trends, I wouldn’t say that there’s any step function change to the trends in terms of ad loads, et cetera, again adjusted for the season I’d say generally in line with the trends that we’ve established, including a trend that there’s a very gradual increase in the level of audio advertising, but no different from the gradual upward trend that we’ve been on for over two years now.
Ralph Schackart – William Blair: Joe, I think historically you’ve given us some incremental color on mobile RPM. Just curious how they trended in the quarter, and then secondly can you give us some mobile engagement metrics perhaps, a little bit more color perhaps click through rates or engagement metrics. I think on the call you talked about seven times per hour interaction. Just curious how mobile is trending versus overall Internet and mobile engagement?
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