Wednesday, August 2, 2017

Pandora Lost $407M During First Half 2017

Pandora’s active listener base fell to its lowest point in over three years in the quarter to end of June – as the company’s net losses in the first six months of 2017 clocked up to an eye-watering $407.4m.

According to company filings, Pandora’s monthly active user audience stood at 76m in Q2.

That was down 2.1m listeners on the same quarter in 2016, and down 3.4m on the same quarter in 2015, according to Music Business Worldwide.

There was positive growth in paying subscribers – which increased 24% year-on-year to 4.86m from 3.93m in Q2 2016.

Subscription (and other) revenue followed suit, up 25% year-on-year to $68.9m.

However, there’s a catch: just 390,000 of these subscribers were signed up to Pandora’s $9.99-per-month Premium tier, which publicly launched in March.

The rest of them were using to its mid-price, limited-interactive $4.99-per-month offering.

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