Pandora Media provides internet radio in the U.S. Co. provides its service to listeners at no cost and generates revenue primarily from advertising. Co. also provides a subscription service to listeners. Co. provides service through two models: Free Service, which is advertising-based and allows listeners access to music and comedy catalogs and personalized playlist generating system for free across Co.'s delivery platforms; and Pandora One, which is a paid subscription service and allows unlimited listening time and provides access to 192 kbps audio on supported devices. As of Jan 2012, Co. had over 125.0 million registered users and as of Jan 31 2012, Co. had 47.0 million active users.
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