For those interested in music company stocks, pay close attention to the following: On Monday, July 31, Pandora Media (NYSE:$P) reported financial results for the second quarter, which ended on June 30, 2017.
“We have taken a number of steps to hone the company’s strategy and position Pandora to continue to build audience and extend monetization through a combination of advertising and subscription revenue streams. In addition to exceeding our revenue expectations this quarter, we also announced several important strategic moves including a $480 million investment from Sirius XM, the sale of Ticketfly, and changes to our board and management team,” said CFO and interim CEO Naveen Chopra.
Here are 9 essential things to know about Pandora’s Second Quarter:
- Ticketing Service: For Q2, ticketing service revenue came in at $29.7 million, which is a 31% year-over-year increase.
- Revenue: Total consolidated revenue for Pandora came in at $376.8 million, which is a 10% year-over-year increase.
- Pandora Subscribers: The company’s total paid subscribers grew from 3.93 million in the second quarter of 2016 to 4.86 million in the second quarter of 2017. This is significant as it represents a 24% year-over-year increase.
- Advertising: For the second quarter of 2017, advertising revenue came in at $278.2 million, which is a 5% year-over-year increase. It is thought that advertising growth was enabled by higher ad-loads relative to the 2016 period.
- Pandora’s GAAP Net Loss and Adjusted EBITDA: GAAP net loss came in at $275.1 million compared to a net loss of $76.3 million in the same quarter in 2016. Adjusted EBITDA was a loss of $54.3 million, in comparison to a loss of $25.1 million in the same quarter of 2016.
- Pandora Listener Hours: Total listener hours for Pandora were 5.22 billion for the second quarter of this year. This is compared to 5.66 billion for the same period in 2016.
- Investments and Cash: Looking back at the first quarter of 2017, Pandora ended with $227.6 million in investments and cash. This is compared to $203.0 million at the end of the prior quarter.
- Active Listeners: At the end of the second quarter of 2017, Pandora active listeners hit 76.0 million.
- 2017 Guidance: Guidance will be a topic of conversation during today’s second quarter conference call (July 31 at 2 p.m. PT/5 p.m. ET)
Featured Image: twitter
