On top of its automotive activation update, Pandora (P +8.5%) got a lift today from an upbeat...


On top of its automotive activation update, Pandora (P +8.5%) got a lift today from an upbeat note from Canaccord's Michael Graham: he thinks Pandora's audio ad load could rise as much as 70% Q/Q in FQ2, which in turn could lead to mobile RPM (revenue per 1K hours of listening) growth of 21%-35%. Pandora's mobile RPM stood at $25.31 in FQ1, +34% Y/Y but still 47% below a PC RPM of $48.04. Also: AdAge observes Pandora's auto activations are up over 4x from what it reported a year ago, and that about half of all radio listening takes place in cars.
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