The 54-year-old is tasked with speeding up the already rapid revenue growth at Pandora as it struggles to cover rising royalty payments to artists.
McAndrews said in an interview Wednesday it was too early to get into specifics, but that ad growth will be a focus.
"Advertising support is a key part of the equation here. I think Pandora's done a lot of great things and innovative things, particularly in the mobile space," he told The Associated Press. "I'm sure there are ways we can continue to optimize."
The executive switch comes as competition heats up to provide free music streaming. Next Wednesday, Apple will roll out an update to its mobile operating software on hundreds of millions of devices that includes a competing radio service, iTunes Radio. This week,
McAndrews replaces outgoing CEO
The stock market welcomed the news.
McAndrews said that the next government-led rate-setting process to begin in January is "a ways off" but that he felt confident Pandora would "do the right thing."
"I do share Pandora's longstanding belief that musicians should be fairly compensated for their work," he said, adding that the existing series of laws covering music streaming on the Web are "piecemeal" and "doesn't serve any one very well."
After working at
McAndrews went to work for
"I'm incredibly proud of what we built at aQuantive," he said.
"No one better understands the intersection of technology and advertising, which he clearly demonstrated during aQuantive's meteoric rise," Westergren said in a statement.
McAndrews, who was named
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