Pandora is coming back from the bottom! It has been announced that the company has gathered $319.2 million in earnings from the first quarter, and their subscribers increased to 19%.
Based on the first quarter, Pandora’s net loss was $319.2 million, interpreting an approximate 12% annual growth. The net loss excludes Australia, New Zealand, and Ticketfly. Pandora’s promoting revenue resulted to $214.6 million. The company’s subscription revenue is $104.7 million, increasing 63% on a yearly basis.
“Music streaming and digital audio continue to see massive growth, and this quarter we took key steps to position Pandora to capture this significant opportunity. We improved audience metrics -- in part by increasing usage of Premium Access, which gives ad-supported listeners the ability to enjoy Pandora Premium after viewing a 15-second ad. We also accelerated our ad-tech roadmap with the acquisition of AdsWizz, and launched exciting new product features like personalized playlists. Looking ahead, Pandora is exactly where we want to be: at the center of a growing market with huge potential.” – Roger Lynch, CEO of Pandora
What do you guys think? Will Pandora come back to life? Let us know in the comment section down below.