Pandora Reports Increase In Revenue, Net Loss In Q2
July 25, 2014
Pandora reported its second quarter financial report for 2014, and while its revenue grew during the three-month period, the popular digital music service also reported a greater net loss. Total revenue in the quarter was $218.9 million, a 38 percent increase from a year earlier. Ad revenue grew 39 percent to $177.3 million, while subscription revenue was up 35 percent to $41.6 million. However, Pandora also took a net loss of $11.7 million in Q2.
Pandora reported total listening hours of 5.04 billion in Q2, up 29 percent from Q2 in 2013, with 76.4 million active listeners, a 7.5 percent increase over the same period last year.
“Our better than expected second quarter results demonstrate success and continued business acceleration as a result of our investments in mobile and local advertising. Mobile advertising reached a record 76% of total ad revenue and local grew at 144% year-over-year,” stated Brian McAndrews Chairman, President and CEO of Pandora. “As a company, we are united by Pandora’s clear sense of purpose to unleash the infinite power of music, and we’re attracting the brightest stars in the advertising, technology and music industries to help drive our business forward."