Pandora eliminating mobile listening cap

Pandora (P) states on its FQ2 CC it's removing its 40-hour monthly mobile listening cap on Sep. 1.

The cap, which applies to free (ad-supported) users, has taken a toll on Pandora's mobile listening activity, as its June and July audience metrics demonstrated.

The decision comes with Pandora facing tough mobile competition from rivals such as TuneIn, Songza, and Spotify, and ahead of Apple's iTunes Radio launch (expected in September).

Shares -8.5% AH.

FQ2 results: I, II

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