Pandora CEO Tim Westergren says ad sales are looking up and that the Internet radio company is bringing on more staff — in the same blog post in which he announces that the firm’s laying off 20 of its 140 employees due to the broader economic downturn. But if ad spending in general is heading south in an already wobbly economy, then strong ad sales at Pandora might not last for long.
Pandora recently picked up a few more big-name advertisers, and Westergren didn’t say what specifically about the current meltdown led to the layoffs. We’ve emailed him for comment and will update the post if and when we hear back.
The company took a breather at the end of last month when Congress passed the Internet radio royalty bill, which gives webcasters the chance to negotiate royalty payments with copyright holders instead of being socked by the high rates that threatened to eat up most of its revenue.