After crossing the billion dollar mark in total revenue for all of 2015, Pandora reports an increase in its first quarter revenue for 2016 over the same period last year.
According to the internet audio streamer’s financial reports, the total consolidated revenue for Q1 2016 was $297.3 million, a 29% growth year-over-year. Advertising generated $220.3 million of the total, while its ticketing service, subscriptions and other services made up the rest with $22.3 million and $54.7 million total in revenue respectively. However, the earnings before interest, taxes, depreciation and amortization (EBITDA) totaled a loss of $57.4 million, compared to $20.9 million in 2015.
Pandora also revealed that its total listener hours grew 4% over Q1 2015, from 5.3 billion to 5.52 billion hours. The number of active listeners was level, with 79.4 million so far in 2016; 2015 had 79.2 million at the same point.
Those numbers have resulted in Pandora raising its expected full earnings for 2016 from $1.40–$1.42 billion to $1.41–$1.43 billion.
The full financial report can be found here.
