- Pandora's (P +2.8%) October listener hours totaled 1.47B +8% M/M (aided by an extra day) and +18% Y/Y. The Y/Y growth rate is on par with September's 16%, even though iTunes Radio launched on Sep. 18. The company's 40-hour free monthly mobile listening cap was lifted on Sep. 1. (PR)
- Pandora's share of U.S. radio listening was 8.06%, up from 7.77% in September, 7.46% in August, and 6.61% a year ago.
- Pandora's listening growth came even though active listeners fell by 1.8M M/M to 70.9M, evidence Apple may be picking off Pandora's less fervent fans. On a Y/Y basis, active listeners were still up 20% (September's growth was 25%).
- An analyst defending Apple once said the "stickiness of an installed base" represents "one of the most undervalued assets" in tech. Might the same hold for Pandora?
- Also: CFO Michael Herring says Pandora might use some of the funds it raised through its recent stock offering to finance international expansion. The company's streaming services are currently offered only in the U.S., Australia, and New Zealand.
- Previous metrics: September, August
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