Pandora Subscriber Base Grows to Over 5 Million
Pandora Premium paid subscribers cross the 1 million milestone in October 2017
Streaming music service Pandora released their third quarter financial results for 2017 which indicated that it had made significant progress in growing its subscriber base. Pandora now has 5.19 million total subscribers, an increase of 29% year-over-year. In addition, the company crossed the 1 million milestone for Pandora Premium, which allows users to search and play songs on-demand, no timeouts, fully customizable playlists, and more offline listening options. The growth in subscription led to a 50% year-over-year increase in subscription revenue to $84.4 million.
This of course has to be put in context: market leader Spotify has 60 million paid subscribers while Apple Music has 30 million. Another blemish in their financial report: total listener hours were 5.15 billion, down from 5.40 billion for the same period last year.
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» Pandora Reports Q3 2017 Financial Results
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