Pandora Media Inc (P) Reports 70.1 Million Active Listeners Per Month
Pandora Media Inc (NYSE:P) has reported that they have hit 70.1 million “active listeners” as of the end of April. This is a 35% increase from the previous year. The company also reported that total listener hours increased 34% from 1.06 billion last April to 1.31 billion in April 2013. The share of total U.S. radio listening for Pandora in April 2013 was 7.33%, which is an increase of 5.95% at the same time last year.
Pandora launched a 40-hour mobile listening limit in March as part of a strategic move to balance monetization with an increase in music royalty costs. Despite the changes, Pandora has been able to maintain audience growth and it has been in-line with their company expectations.
Last month, we wrote that Pandora hit 200 million total registered users. It took Pandora to hit the first 100 million users in July 2011. The company added another 100 million registered users within 2 years of that.
Pandora allows people to listen to music and comedy through personalized stations. Pandora is powered by a deeply detailed hand-built musical taxonomy known as The Music Genome Project. The technology uses musicological DNA and receives constant listener feedback to create personalized stations from a collection of over one million tracks.
In 2012 alone, over 13 billion hours of Pandora music was streamed by tens of millions of users.
This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry