86% increase in mobile revenues for Pandora

One of the hot spaces now is internet radio and the company that is grabbing the biggest headlines at the moment is Spotify.

Four of its 15 million subscribed users have now moved to the Spotify premium option.

However, Pandora has vastly outpaced its biggest rival and it reached 54.9 million active users in QII, a massive 48%% rise y-on-y.

During this period mobile revenues reached $59.2 million, an 86% y-on-y growth. This bears testimony to the firm’s claims that about 67% of music playback comes from mobiles.

Total revenues reached $101.3 million, a 51% increase. Advertising contributed the biggest at $89.4 million (53% growth) and the rest of the revenues came from subscriptions and others.

A new record for overall listening hours was established as it went past 3.3 billion, 80% better than 2011.

As per Joe Kennedy, Chairman and CEO, Pandora, the results exceeded expectations and shows that their mobile monetization strategies are working.

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