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More on Pandora's (P) FQ4: Listener hours totaled 2.7B, +29% Q/Q and +99% Y/Y. However, ad...
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Tuesday, March 6, 2012, 4:27 PM ETMore on Pandora's (P) FQ4: Listener hours totaled 2.7B, +29% Q/Q and +99% Y/Y. However, ad revenue growth was slower (+9% Q/Q and +73% Y/Y), which suggests Pandora may be facing monetization challenges. Meanwhile, content acquisition costs (royalties) rose 101% Y/Y, and equaled 59% of revenue. Pandora says it now has a 69.8% share among the top 20 U.S. Internet radio services, up 1150 bps Y/Y. P -13.5% AH. (PR)
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