Pandora releases lackluster 3rd quarter results. New CEO Roger Lynch is hopeful. Let’s see what happens next.

Highlights from Pandora’s 3rd quarter filed financial results

  • For the third quarter of 2017, total consolidated revenue was $378.6 million, an 8% year-over-year increase.
  • 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.
  • Subscription revenue was $84.4 million, growing 50% year-over-year
  • Total subscribers were 5.19 million, growing 29% year-over-year
  • 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.
  • 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.

READ THE FULL Q3 2017 FINANCIAL RESULTS FOR PANDORA

“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.”

 

 

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Mike Dias is a Sales Director for Logitech. He specializes in consumer electronics & pro audio with an expertise in headphones & portable audio. He has over 15 years of experience selling custom handcrafted in-ear monitors.

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