MI2N
Music Industry News Network
SATURDAY, NOVEMBER 18TH
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 11-05-2017

Pandora Reports Q3 2017 Financial Results

Bookmark and Share

Pandora announced financial results for the third quarter ended September 30, 2017.

"After just a short time here at Pandora, it's clear to me we have a tremendous opportunity to meet the full spectrum of our listeners' and advertisers' needs," said Roger Lynch, president and CEO of Pandora. "We have significant scale, distribution and products that deliver a superior listening experience. We will leverage these strengths to become a more integral part of our listeners' lives and reinforce our position as the definitive source for audio advertising."

"We had a solid financial quarter with revenue above our mid-point and adjusted EBITDA coming in very close to the high end of our guidance," said Naveen Chopra, CFO of Pandora." The growth we experienced in RPMs and subscription revenue indicates that our multi-tier service strategy can continue to enhance monetization in multiple listening modes. We also completed the investment by Sirius XM and the sale of Ticketfly in the quarter, strengthening our balance sheet and bringing cash and short-term investments to nearly $500 million."

Third Quarter 2017 Financial Results

Revenue: For the third quarter of 2017, total consolidated revenue was $378.6 million, an 8% year-over-year increase.

Advertising: Advertising revenue was $275.7 million, a 1% year-over-year increase. Advertising revenue growth incorporates an increase in the average price per ad, offset by a decrease in the number of ads sold.

Subscriptions: Total paid subscribers increased from 4.01 million in the third quarter of 2016 to 5.19 million in the third quarter of 2017, growing approximately 29% year-over-year. Subscription and other revenue was $84.4 million, a 50% year-over-year increase. Additionally in October, Pandora Premium surpassed 1 million paid subscribers.

Ticketing: Ticketing service revenue was $18.5 million in the third quarter of 2017, a 16% year-over-year decrease. The decline was related to the Ticketfly divestiture closing in the beginning of September, resulting in only two months of ticketing revenue in the third quarter of 2017.

GAAP Net Loss and Adjusted EBITDA: For the third quarter of 2017, GAAP net loss was $66.2 million compared to a net loss of $61.5 million in the same quarter last year. Adjusted EBITDA was a loss of $5.3 million, compared to a loss of $6.6 million in the same quarter last year.

Cash and Investments: For the third quarter of 2017, the Company ended with $499.4 million in cash and investments, compared to $227.6 million at the end of the prior quarter.

Other Business Metrics

Listener Hours: Total listener hours were 5.15 billion for the third quarter of 2017, compared to 5.40 billion for the same period of the prior year.

Active Listeners: Active listeners were 73.7 million at the end of the third quarter of 2017. The active listener number excludes approximately 1.1 million active listeners from Australia and New Zealand, following our decision to exit the business in those countries.

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

LOVE MY COUNTRY! Is The Ultimate Compilation Series Featuring 20 Hot New Hits

Getting Restless

Your Favorite Color Releases "Heartache"

Melvin Alan Album "Wonderful Life"

Jean Louisa Kelly Presents A Personal Collection Of Songs From The American Standards And Musical Theater

halie and the moon Signs Distribution Deal For Asia With JVC Kenwood Victor Entertainment

Deadline Looms - The 14th Annual Acoustic Music Awards



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Kobalt Capital Closes Second Music Royalties Fund With $600 Million In Investment Capacity
» Rare 78rpm Records Are Being Digitized Using Prism Sound Titan Audio Interfaces
» Asylum Records Relaunched In U.S.
» Emiko Releases New Music Video Highlighting Survivors Of Sexual Abuse
» Billboard Single “God With Us” By CLARĒTA Haddon Gains Mainstream Radio Traction
» Jon Batiste Becomes Music Director Of The Atlantic
» Amazing Music Tracks - Free Music Licensing
» Rick Vines All Stars Travel To SPACE! Mon Dec 4th!
» LOVE MY COUNTRY! Is The Ultimate Compilation Series Featuring 20 Hot New Hits
» New Rock Band Cathedral Reign Recording New Music


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Women Make An Impact On The 2018 MPG Awards Shortlist
» The Nashville Musicians Sound Healthcare Plan Rolls Out
» Streaming & Listening Diversity - Spotify Case Study
» Two-Sides Of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes
» Europe's Digital Music Leaders Form Alliance
» Pandora Subscriber Base Grows To Over 5 Million
» Hybrid Studios Announces Online Mastering Services
» Music Industry Betting On VR & AR For New Revenue
» Sound Royalties Unearths Millions In Undistributed Royalties
» MusicDish*China October China Label Music Releases And Charts
» Deezer Becomes Miami Dolphins' Official Music Partner

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2017 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.