Pandora plans to plunge its profits into ad budget

Pandora plans to increase its marketing budget this year, taking a "more aggressive" stance as competition heats up, especially from Apple's iTunes Radio, according to Chief Financial Officer Mike Herring. Mobile ad sales represented 72% of Pandora's ad revenue in the fourth quarter, when it posted a $9 million profit. Marketing will focus on features such as alarm clock mode, its recommendation service and other forthcoming services.

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