Pandora (P) Continues Ceding U.S. Radio Share in June 2013
Tweet
Share
E-mailGet Alerts P Hot Sheet
Join SI Premium – FREE
Pandora Media (NYSE: P) shares are indicated lower Tuesday morning following an update on recent audience metrics.
For the month of June 2013, Pandora reported a 17 percent increase in listener hours to 1.25 billion, a 1.06 point increase in U.S. radio share to 7.04 percent, and 30 percent increase in active listeners to 71.1 million.
Despite across-the-board year-over-year gains, numbers are showing a little maturity. For May 2013, active listeners grew 33 percent, while listener hours rose just 22 percent. However, Pandora also reported holding 7.29 percent of the U.S. radio market share during the month, meaning a dip through the end of June.
April saw U.S. radio share at 7.33 percent, while active listeners grew 35 percent to 70.1 million.
Whether the market share erosion stems from increased competition or just overall growth of the market wasn't made clear.
For the month of June 2013, Pandora reported a 17 percent increase in listener hours to 1.25 billion, a 1.06 point increase in U.S. radio share to 7.04 percent, and 30 percent increase in active listeners to 71.1 million.
Despite across-the-board year-over-year gains, numbers are showing a little maturity. For May 2013, active listeners grew 33 percent, while listener hours rose just 22 percent. However, Pandora also reported holding 7.29 percent of the U.S. radio market share during the month, meaning a dip through the end of June.
April saw U.S. radio share at 7.33 percent, while active listeners grew 35 percent to 70.1 million.
Whether the market share erosion stems from increased competition or just overall growth of the market wasn't made clear.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Everpure (P) PT Raised to $170 at TD Cowen
- Citi keeps this biotech stock a top pick after trial clears key efficacy milestone
- This name is "a later-cycle beneficiary of the AI spending cycle": Goldman
Create E-mail Alert Related Categories
Insiders' BlogSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
