The streaming service that started it all missed its revenue projections and closed down 4.8% yesterday and continued the free fall in after hours trading.
There was a lot to like in their third quarter results but shareholders were apparently having none of it.
Listener hours grew by 5% (wouldn’t radio love that). But active listeners fell slightly (still Bob Pittman would love to be Pandora).
Advertising without having to do Jingle Ball events and concerts was up 7.5%.
But paid subscriptions were down 1.4% at a time when Spotify is claiming 40 million paid subscribers worldwide and Apple just has to sneeze and comes up with 17 million subscribers to a just-okay Apple Music.
As of September Pandora had an estimated four million subscribers.
Pandora, therefore, is an ad based medium.
So Pandora is junk now, right?
If you’ve been thinking about subscribing and would like to access this story, let me tell you what you will get …
- Pandora stock tanked yesterday, they have more competitors than ever – is this the end of Pandora?
- Why their competition is not radio, satellite radio, Spotify, another streaming service or Apple – see what Pandora is missing.
- Then why does Bob Pittman want iHeart to be Pandora?
- What could make Pandora (or any streaming service) a hot company with this one listener approved idea.
- The surprising thing that will happen if Pandora’s number one competitor, Spotify, eventually goes public.
- Will Pandora’s recent Spotify-like enhancements cut into Spotify?
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