Pandora Reports Q4 Mobile Ad Revenue of $80.3 Million
Pandora continues to hire salespeople from traditional radio.
Company Chairman/President/CEO Joe Kennedy says Pandora is focused on building out its sales force in some 28 markets this year and has a total sales force of some 700.
The Internet audio company now claims to be “effectively the largest radio station in almost every major market” according to what Kennedy told Wall Street analysts.
It reported total revenue was $125.1 million in the fourth quarter, up 54% over the same period a year ago.
Total advertising revenue for Q4 was $109 million and mobile accounted for $80.3 million of that total, exceeding the company’s expectations for the quarter, according to Kennedy.
Losses totaled $14.6 million for the quarter.
Total listener hours grew 53% to 4.05 billion for the quarter, compared to the same quarter a year ago.