Pandora thinks it will bring in a quarter of a billion dollars in revenue this fiscal year. Can it continue to grow at its current pace? Will the competitors it has inspired slow its growth?
The company issued its quarterly financial numbers. It said it took in $75 million in the most recent quarter, up 99% from the same time a year ago. Ad revenue was $66 million, up 102%, and subscription and other revenue was $9 million, up 80%.
It said it recorded growth of 104% year-over-year in listener hours and “record” Internet radio market share growth to 66%. It claims “total listener hours” of approximately 2.1 billion for the quarter.
It says its performance illustrates strong demand for “personalized radio.”
In fiscal 2012, its current fiscal year, Pandora expects to gross $273 million to $277 million in revenue. (By comparison, the U.S. commercial radio industry’s most recent full-year revenue figure was about $17.3 billion, according to the Radio Advertising Bureau.)
Chairman, President & CEO Joe Kennedy released the company numbers, citing Pandora’s “growing scale and powerful, multi-product advertising platform” that is “enabling Pandora to increasingly penetrate areas that were once solely served by terrestrial radio.”
