Friday, November 22, 2013

Pandora Claims Increase In Radio Listeners

Pandora  Thursday announced financial results for the third quarter of fiscal year 2014 ended on October 31, 2013.

"Pandora continues to monetize effectively across the board," stated Brian McAndrews, CEO, President & Chairman of Pandora. 

"Mobile advertising revenue surpassed the $100 million milestone during the quarter, which drove increased operating leverage. At the same time, Pandora continues to lead the market in mobile innovations, with a complete redesign for the iPad and the debut of the Android tablet app. We plan to continue to aggressively invest in the business as we seek to deliver the best personalized radio service for users."
  • Mobile advertising revenue exceeds $100 million, growing 58% year-over-year to $104.9 million
  • 3Q14 GAAP total revenue of $180.4 million, growing 50% year-over-year
  • 3Q14 total listener hours of 4.18 billion, growing 17% year-over-year
  • Share of total U.S. radio listening for Pandora in October 2013 was 8.06%, an increase from 6.61% at the same time last year
  • 70.9 million active users , growing 20% year-over-year

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