Pandora Listeners Drop in Q1
Internet audio music service Pandora reported 75.3 million active listeners in the first quarter; that’s down nearly one million from the previous quarter.
However, the company reaped $140.6 million in ad revenue, a 45% year-over-year increase.
Company President/Chair/CEO Brian McAndrews said the Internet audio service started the year with “robust momentum and continued solid growth.”
“Our strong first quarter results demonstrate Pandora’s deep listener engagement, accelerating monetization, and increasing leverage in our business model. Looking ahead, we will continue to invest aggressively to extend our leadership position and drive forward the future of radio,” said McAndrews.
Pandora says it logged 4.8 billion listener hours for January, February and March. That’s up from 4.26 billion the previous year.