Pandora Listeners Now Spend 3.09 Billion Hours not Listening to SiriusXM
Pandora reported their quarterly financial results today and the good news is, the music service is now averaging an impressive 51.9 million active users, a 53% year over year gain – WOW. The bad news is, the company only made $80.8 million, with $70.6 coming from advertising and a mere $10.2 million in subscriptions.
The 62% year over year increase in ad revenue and the the 38% year over year increase subscription revenue, on their own, seem like a step in the right direction. The reality is, the company is making about $1.55 per user.
It should also be noted that the company posted a net loss of $20.2 million, up from its $6.8 million loss for the same period the year before.
I’m not investing in Pandora but, it should be noted that those who are saw a nice 12% bump on the day. As a fan and investor of SiriusXM, what does concern me is the increase in users and listeners hours. I want SiriusXM to have ALL the subscribers.
Pandoras’ listener hours grew 92% to approximately 3.09 billion, compared to approximately 1.6 billion from the same quarter last year. As far as I am concerned, that is 3.09 billion hours people are not listening to SiriusXM.
It affects traditional radio much more than Sirius IMO.
Correct. Not the same customer.
nice headline.
I like the fact knowing that when i take my salary and figure what I make an hour that i make more than Pandora by the hour.
$80.8M from 3.09B listening hours IS…..A…….JOKE.
a better headline would read, “SIRI subs pay when they do not listen, pandora’s do not pay when they do”.
Kidding aside SIRI is fine. After Liberty takes care of the share count and the course of time takes care of the debt, the share price will be at a level that we will be happy with.
PS spencer: when Biggs stared saying to Mel “Chin up, face forward, keep fighting” etc did you cover your face in embarrassment like I did?