Pandora Reports 4Q Profit, Increase In Listener Hours

Pandora Wednesday announced a profit of $9 million or a 4 cents a share. Pandora generated approximately $640 million in revenue in 2013, $200 million in Q4. Advertising revenue for the company was up 45% to $521 million for the year and 39% for the quarter to $162 million. Mobile revenue grew 69% in 2013 to $366 million and 60% in Q4 to $117 million.

“Pandora continued growing revenue over 50% year-over-year,” stated Brian McAndrews CEO, President & Chairman of Pandora.

Brian McAndrews

“2013 marked notable growth from user metrics to financial achievements. These have largely been driven by our position as a leader in mobile media, both in user engagement and monetization. We remain intensely focused on advancing Pandora's mission to reinvent radio. To fully capture the substantial market opportunity ahead of us, we will continue to aggressively invest in 2014 in sustained audience and engagement growth as well as activities that further accelerate monetization. As such, our bias will continue to be toward revenue growth and capturing additional market share."

Other Business Metrics

Total Calendar Fourth Quarter Ended December 31, 2013 Listener Hours: Total listener hours grew 16% to 4.54 billion for the calendar fourth quarter of 2013, compared to 3.91 billion for the calendar fourth quarter of 2012.

Total Calendar Year Ended December 31, 2013 Listener Hours: Total listener hours grew 23% to 16.70 billion for the calendar year of 2013, compared to 13.51 billion for the calendar year of 2012.

McAndrews also announced plans to extend an olive branch of sorts to its rivals, telling analysts the company plans to “increase engagement” with people across the radio and music industries.  “We may not always agree with others in the ecosystem, but it’s important that we understand each other’s objectives and work to find common ground where we can,” he said according to InsideRadio.