MI2N
Music Industry News Network
SATURDAY, JANUARY 20TH
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

The International Music Consulting Firm GINGIO Hosts Events At NAMM And Grammy Weeks

MarilynMusic Places Five New Songs With Altino Music

Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio

For Folk's Sake Premieres Katie Garibaldi's 'Unhappy Holiday' Honky Tonk Music Video

GuitarPlayer.com Debuts Claymation Music Video For 'Star In The East' By Katie Garibaldi

Veteran Recording Artist Jerri BoKeno Rekindles Holiday Jewel "This Christmas"

The Ed Sheeran Of The Hare Krishna World: Meet Cyril Wohrer



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Spotify Makes Motion To Restrict Communication Between Wixen Music Publishing, Inc., Its Clients, And Their Attorneys
» Say Hello To Volareo: A Streaming Speaker That Pays Musicians When You Clap
» MarilynMusic Places Five New Songs With Altino Music
» VidaPrimo Debuts Latin Music Channel On XUMO
» "Whiskey And Cigarettes Show" Nominated For 2018 New Music Awards
» Reservoir Promotes Rell Lafargue To President And Chief Operating Officer
» Independent Music Magazine Indie Band Guru Launches Indiegogo Campaign
» The International Music Consulting Firm GINGIO Hosts Events At January NAMM And Awards Week
» Award Winning Singer/Songwriter Craymo Releases December Rain (Carol Of Love) To Radio
» Runway 27, Left: Planned Release Of Third Album 'Triple Story' In Spring 2018


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

Articles
MUSICDISH E-JOURNAL
» MusicDish*China Presents 'Savage Guitarist' Todd Clouser In Beijing
» Mixcloud Taps Gracenote For Advanced Music Recognition
» Copyright Royalty Board Increases Sirius XM Royalty Rate
» Lithuanian Band Grabs Bronze At The Silk Road Indie Music Festival 2017
» Live Entertainment Specialists Headliner Launch Premium Artist Booking Service
» Voice-Controlled Speakers & The Music We Listen Too
» Nordic & British Musicians' Unions' Joint Statement On Sexism In The Music Industry
» 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

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 © 1997-2018 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.