Wednesday 23 November 2011, 10:54 | By

Pandora has a good-ish quarter

Digital

Pandora

Pandora’s share price fell slightly yesterday, despite the US-based and now publicly listed streaming music service reporting a pretty good set of stats for the last financial quarter, including listening hours doubling, ad revenue doubling and subscription revenues rising by 80%. This despite all the hoo and haa around new competitor Spotify launching Stateside during that period.

The company’s financial performance was actually slightly better for the quarter than many analysts expected, though management warned the current quarter has been more challenging, and that figures for the current period are likely to be slightly down on expectations, hence the share price wobble.

Nevertheless, those with a more long term view will likely be pleased with Pandora’s progress, as the long established player in a tricky and increasingly competitive market continues to grow, even if that growth is modest.

OR READ MORE ABOUT:

  • Federal appeals court agrees to review pre-1972 case
  • Fake Glastonbury ticket seller facing prison
  • IFPI puts out vinyl stats ahead of Record Store Day
  • Olly Murs and Caroline Flack to host X-Factor
  • Why music people should #VoteForMusic
  • CMU Beef Of The Week #250: Fifteen tips for a better beef
  •