Pandora's Q1 financials are very positive
Pandora's latest quarterly financial show a company in good shape. The streaming service posted revenues of $319.2m, up 12% year-on-year – although this excludes the contribution in Q1 2017 from Australia and New Zealand (where Pandora has since shut down) and from ticketing service Ticketfly (since sold).
Pandora’s Q1 net losses narrowed slightly from $132.3m to $131.7m over the last year.
There also was some bad news, even if the markets didn’t seem to fret about it. Pandora ended Q1 2018 with 72.3 million active listeners, down from 76.7 million a year ago, and 79.4 million the year before that – it has thus lost 8.9% of its listeners over the last two years. Pandora’s quarterly listener-hours also declined year-on-year, from 5.21bn in Q1 2017 to 4.96bn in Q1 2018. There was some good news around the company’s premium-subscriptions business, however.
Pandora now has 5.6 million subscribers, up 19% year-on-year. That 5.6m figure is split between Pandora’s mid-tier Plus and fully-on-demand Premium offerings.