Pandora shares financial results: subscriptions grow, but active-listeners decline
US streaming service Pandora is going to be bought by satellite-radio company SiriusXM, but for the moment it's an independent, public company. It just shared its latest quarterly financial results.
Pandora’s quarterly revenues grew by 10.3% year-on-year to $416.6m, although the growth was 16% if you factor out the revenues a year ago from ticketing business Ticketfly (which Pandora sold last September) and from Australia and New Zealand (where it shut down last July). Pandora slightly narrowed its quarterly losses too: $63.7m in Q3 this year compared to $66.2m a year ago.
The number of paid subscribers continues to grow: it added 784,000 last quarter, taking it to around 6.8 million Pandora Plus and Pandora Premium subscribers at the end of September. However, the company’s overall audience fell for the third quarter in a row: it ended Q3 with 68.8 million active users, down from 71.4 million at the end of Q2, and 73.7 million a year ago.