Musings, observations, and written works from the publisher of Eckhartz Press, the media critic for the Illinois Entertainer, host of Minutia Men, and the writer of "The Living Wills", "$everance," "Just One Bad Century," "Father Knows Nothing," "The Radio Producer's Handbook," and "Records Truly Is My Middle Name"
Friday, July 24, 2015
The argument against Pandora has always been: "How are they going to make money?" That argument has now been laid to rest. From this morning's Radio Ink...
With Q2 revenue of $285.6 million Pandora reached a new milestone. Over the previous year, Pandora generated over $1 billion in revenue. By comparison, the entire radio industry generates about $17 billion per year. In Q2 Pandora generated $231 million (up 30%) in advertising revenue; subscription and other revenue was $54.6 million (up 31%). Mobile revenue came in at $230 million (up 37%) and local advertising revenue was $58.9 million (up 67%). Total listening hours were 5.3 billion, up only 5%, which CEO Brian McAndrews says is normal for this seasonal time of the year. Active listeners were 79.4 million at the end of the second quarter of 2015, compared to 76.4 million from the same period last year