Pandora Hits 200 Million Users
Online radio service Pandora announced today that they have hit 200 million users. It took Pandora around 6 years to hit 100 million registered users, which happened in July 2011. In under 2 more years, Pandora hit another 100 million users. Of the 200 million users, 70 million use Pandora on a monthly basis. Pandora’s largest rival, Spotify, has 24 million active users and 6 million paid subscribers.
Pandora has been dealing with some management and financial issues lately. Last month, Pandora said that CEO Joe Kennedy will be stepping down. Pandora’s stock plummeted throughout 2012. The company’s stpcl hit a high of about $20 in July 2011 and is now trading at about $12.92.
“We started this company to help people discover and enjoy music they love, and to help artists reach and grow their audiences. Only in our wildest dreams did we imagine what it would become,” stated Pandora founder Tim Westergren. “It is now clear that radio is changing, and that’s great news for music fans and for the tens of thousands of working artists who now have a home on the air.”