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Pandora Media's CEO Discusses F3Q13 Results - Earnings Call TranscriptTue, Dec 4, 2012 • 1 Comment
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Pandora Media's CEO Discusses F2Q13 Results - Earnings Call TranscriptWed, Aug 29, 2012
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Pandora Media's CEO Discusses F1Q13 Results - Earnings Call TranscriptWed, May 23, 2012
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at CNBC.com (Sun, 12:37PM)
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at CNBC.com (Sun, 12:05AM)
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at CNBC.com (Fri, 9:08PM)
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at CNBC.com (Fri, 11:27AM)
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at CNBC.com (Thu, 2:36PM)
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at CNBC.com (Wed, 5:04PM)
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at Fox Business (Wed, 2:00PM)
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at CNBC.com (Wed, 1:10PM)
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at MarketWatch.com (Tue, 6:32PM)
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at MarketWatch.com (Tue, 7:00AM)
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at CNBC.com (May 7, 2013)
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at MarketWatch.com (Apr 12, 2013)
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at MarketWatch.com (Apr 12, 2013)
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at MarketWatch.com (Apr 10, 2013)
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at MarketWatch.com (Apr 9, 2013)
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at MarketWatch.com (Apr 9, 2013)
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PR Newswire (Apr 9, 2013)
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at CNBC.com (Apr 5, 2013)
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at CNBC.com (Mar 18, 2013)
P vs. ETF Alternatives
Company Description
Pandora is the leader in internet radio in the United States, offering a personalized experience for each of our listeners. We have pioneered a new form of radio – one that uses intrinsic qualities of music to initially create stations and then adapts playlists in real-time based on the... More
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- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, March 11, 5:50 PM Spotify is close to deals with music studios that will allow its ad-supported Internet radio service to expand internationally, 3 sources tell Bloomberg. The company's reported goal is to make the service available in all 17 countries that its operates in April. Rival Pandora (P) has been slow to expand internationally; the U.S., Australia, and New Zealand are the only markets where it's currently available. Spotify boasted of having 20M users (5M paid) in December; Pandora claimed 67.7M active listeners for February. Comment! [Tech]
- Friday, March 8, 7:02 PM Needham's Laura Martin is taking Pandora's (P +17.6%) FQ4 ad rate declines in stride, arguing the quarter is a seasonally weak one for ad prices and that this year's drops were moderate. But she is concerned about Joe Kennedy's planned departure, given his pivotal role in saving Pandora from the brink and turning it into a $430M/year business. Wedbush's Michael Pachter thinks Kennedy's replacement should have a strong radio sales background. "They don’t need a product development guy ... They need a chief revenue officer." (CC transcript) (more) 1 Comment [Tech]
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Friday, March 8, 12:44 PM
Midday top 10 gainers: AQ +36%. GMXR +35%. MEET +22%. AMBA +22%. III +22%. ABIO +21%. PRGN +20%. BVSN +19%. P +18%. WG +17%.
Midday top 10 losers: SKUL -22%. PGRX -19%. SUTR -16%. TECUA -16%. FREE -15%. ANGO -13%. MXWL -13%. AVG -11%. ARCI -10%. OTIV -8%. Comment! [On the Move] -
Friday, March 8, 9:10 AM
Premarket gainers: P +25%. TPX +9%. BVSN +7%. ANN +8%. CLSN +5%. HRB +5%.
Losers: SKUL -17%. MXWL -15%. MED -9%. GOL -6%. Comment! [On the Move] - Thursday, March 7, 7:08 PM "We've turned the corner on mobile monetization," boasted CEO Joe Kennedy on Pandora's (P) FQ4 call, even as he remained vague about the reasons for his planned departure. In spite of the boast, Pandora's mobile ad revenue per thousand hours (RPM) fell 8% Q/Q to $23.51, and was 56% below a PC ad RPM of $53.53, which itself was down 8% Q/Q. Pandora attributes the latter drop to a greater sales focus on mobile. Pandora's share of U.S. radio listening hit 8.48% in February, up from 8.03% in January and 5.74% a year ago. P +21.3% AH. (live blog) (previous) Comment! [Tech, Earnings]
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Thursday, March 7, 5:54 PM
After-hours top gainers, as of 5:15 p.m.: P +19%. AMBA +9%. PETS +7%. PANL +6%. RIGL +5%.
After-hours top losers: MED -9%. ZQK -9%. AVG -6%. SKUL -6%. ANGO -5%. 1 Comment [On the Move] - Thursday, March 7, 4:53 PM Pandora (P) CEO Joe Kennedy is stepping down after holding the top job for nearly 9 years, the company discloses 40 minutes after announcing its FQ4 beat. Kennedy will remain CEO until a successor is found. "As part of our Board discussions of the road that lies ahead, I reached the conclusion ... that the time is right to begin a process to identify my successor." Investors don't seem to be bothered, P +20.6% AH. We should get more details on the CC (webcast). 1 Comment [Tech]
- Thursday, March 7, 4:28 PM More on Pandora: FQ4 mobile revenue was $80.3M (64% of total), +9% Q/Q and +111% Y/Y - the latter exceeded mobile listener hour growth of 70% (improved monetization). Total listener hours +15% Q/Q and +53% Y/Y (was +67% Y/Y in FQ3). Ad revenue +51% Y/Y and 87% of total, subscription/other revenue +74%. Content costs +57% Y/Y, slightly above rev. growth and equal to 61% of sales. But gap between content cost and rev. growth fell from FQ3. Sales/marketing spend +63% and equal to 27% of sales. P +18.9% AH. CC at 5PM ET (webcast). (PR) 1 Comment [Tech, Earnings]
- Thursday, March 7, 4:12 PM Pandora Media (P): FQ4 EPS of -$0.04 beats by $0.01. Revenue of $125.1M (+54% Y/Y) beats by $2.6M. Expects FQ2 revenue of $120M-$125M and EPS of -$0.13 to -$0.10 vs. consensus of $119.5M and -$0.10. Expects FY14 (ends Jan. '14) revenue of $600M-$650M and EPS of -$0.05 to $0.05 vs. consensus of $600M and -$0.02. Shares +17.8% AH. (PR) Comment! [Tech, Earnings, Breaking News]
- Thursday, March 7, 1:14 PM Music studios continue to balk at Apple's (AAPL +0.8%) royalty terms for its planned Web radio service, industry sources tell the NY Post. Whereas Pandora (P +2.8%) pays $0.12 per 100 streamed songs and iHeartRadio $0.22, Apple is said to have made an initial offer of $0.06. Is Apple playing hardball out of a belief the Internet Radio Fairness Act (something apparently on the minds of studios) gives it some leverage? The report could be helping Pandora rally ahead of today's FQ4 report. (previous) Update: The NYT reports stalled licensing talks have led Apple's service to be delayed at least until summer. 17 Comments [Tech]
- Thursday, March 7, 12:10 AM Notable earnings after Thursday’s close: AMBA, BPZ, FNSR, HRB, MED, P, SKUL, SQNM, WDAY, WPRT, ZQK Comment! [Earnings]
- Wednesday, March 6, 5:35 PM Notable earnings after Thursday’s close: AMBA, BPZ, FNSR, HRB, MED, P, SKUL, SQNM, WDAY, WPRT, ZQK Comment! [Earnings]
- Tuesday, March 5, 10:25 AM Pandora's (P +1.5%) audience data will now be automatically available on the 3 top media-buying platforms: STRATA, Donovan, and Mediabank. The deals could boost demand for Pandora's ads among traditional radio ad buyers that have thus far been slow to embrace Web radio. Though Pandora claims an 8.03% share of U.S. radio listening time, the company has less than a 3% share of a $14B U.S. radio ad market. FQ4 results arrive on Thursday. (previous) 1 Comment [Tech]
- Thursday, February 28, 9:08 AM Pandora (P) -3.5% on news it's capping free mobile listening at 40 hours/month just a week before its FQ4 report, and amidst widespread concerns about mobile ad rates. The decline comes even as Wells Fargo raises its valuation range to $15-$17 from $11-$13: the firm says checks with ad agencies and radio ad buyers turn up positive sentiment towards the company, and isn't worried about a potential Apple service. 2 Comments [Tech, On the Move]
- Wednesday, February 27, 6:16 PM Citing royalty costs, Pandora (P) is reinstating a 40-hour monthly listening cap for free users.... only this time, it applies to mobile listeners. The company insists the move should only affect 4% of mobile users. The timing of the announcement is noteworthy, given it comes: 1) 8 days before Pandora's FQ4 report. 2) 3 months after Pandora provided light FQ4 guidance and reported mobile ad rates remain well below PC rates. 3) A day after founder Tim Westergren made a renewed call for passing the Internet Radio Fairness Act, introduced in Congress last November. 4 Comments [Tech]
- Saturday, February 23, 5:49 PM In addition to hatching plans for a Spotify-like streaming service, Google (GOOG) is talking with studios about a YouTube subscription service for music videos and perhaps audio-only songs, the WSJ reports. YouTube is already rumored to be discussing taking a 10% stake in music video site/partner Vevo, and of rolling out a subscription service for individual channels. Separately, BI observes Google is stepping up its challenge to Groupon (GRPN) by making it easier to buy search ads for local deals. 1 Comment [Tech]
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Perkins Cove: Copy that. Take care of the days and the rest (weeks, months, years, lifetimes) take care of themselves. (maybe Boaty already said that)
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Capitalist Bull
LSA growth stocks exhibiting calm orderly action & more upside ahead. http://stks.co/jVAq $TSLA $FB $LNKD $NFLX $GOOG $SBGI $OCN $P $ES_F - View all 0 replies
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Andrew Shapiro
Apple strikes iRadio deal with Universal Music: step closer to launching its Internet radio service $AAPL $P http://ow.ly/kTSqF - View all 0 replies
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DIgitalMediaView
FT reporting UMG iRadio $APPL deal done, WMG almost done, Sony not done yet. Uh-oh for $P. http://on.ft.com/12jyqNG - View all 2 replies
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DIgitalMediaView: If Sony stalls AAPL, will this create opening for GOOG's competitive service? http://bit.ly/YxCH0J
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Ocean Man: I might have a slight preference for June, but May might be a good choice.
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Clayton Rulli: I was eyeing up something like the June 16/13 bear put spread for about 1.45 or so
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dgulick
$P Hires Tommy Page VP Artist & Brand Partnerships "Pandora is like lightning in a bottle for artists" http://bit.ly/12h33Vp;highlight= - View all 0 replies
LATEST REPLIES
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Ocean Man
Covered $P short for a gain of 2.9% in 1 day. $13.94 ---> $13.54. http://seekingalpha.com/s/dt2t3 - View all 2 replies
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DIgitalMediaView
$P's recurring nightmare: "iRadio is coming. There's no doubt about it anymore. Apple is pushing hard for a summertime launch." - View all 2 replies
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DIgitalMediaView: More details and further confirmation on AAPL's iRadio plans. http://cnet.co/10ChvVV
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dgulick: Agreed realornot, with $P now on Mediaocean and STRATA the mobile ad dollar flood gates are about to open: http://bit.ly/ZZLXd5
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dgulick: "clients have long expressed a desire to spend far more heavily in digital radio and Pandora specifically" http://on.mktw.net/14w51EJ
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DIgitalMediaView
Check out this big option move out of $P Sep calls indicating pessimism about next 6 mons: http://yhoo.it/ZfBWFi - View all 1 replies
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DIgitalMediaView: Someone may have info about iRadio being launched at AAPL's annual fall music event? http://bit.ly/162WZB3
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Dr. Kris: I've dumped Pandora for Songza. It's just so easy and fun to use! -
Ocean Man: Thanks Ashraf, and I encourage everyone to follow in the footsteps of Dr Kris!
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Maria Auziliadora: Icahn gets away with a lot though likethe saying Money talks!!!
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Maria Auziliadora: I sold Yesterday I did not want to get too greedy and then not make a good return The engine problems are not solved yet
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Rancodemayor
Pandora $P rises on news that Apple $AAPL will delay it's launch of media streaming web radio. - View all 8 replies
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DIgitalMediaView: Big news. Industry insiders felt he was the adult in the room.
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DIgitalMediaView
$P hits $.01 beat, but note this key metric: Revenue +54% Y/Y, content costs +57% Y/Y, -3% to rev. growth, equal to 61% of sales. - View all 1 replies
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DIgitalMediaView: How is this sustainable unless customer acquisition costs come down? That's unlikely as competition in the space heats up.
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DIgitalMediaView
NYPost confirms $AAPL in fresh iRadio talks seeking to undercut $P economics http://bit.ly/16bHp72 - View all 1 replies
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DIgitalMediaView: See also NYT on delay of launch until summer and details on competitive threat http://nyti.ms/10lRgXx
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DIgitalMediaView
Yesterday GOOG, today NYPost confirms AAPL in fresh iRadio talks seeking to undercut $P economics http://bit.ly/16bHp72 - View all 1 replies
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DIgitalMediaView: See also Techcrunch: "Apple Trying To Undercut The Going Rate For Streaming Radio" http://tcrn.ch/10lI05W
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DIgitalMediaView
Report: YouTube music service, free ad-supported with subscription tier. Huge $P competitor and lost buyer. http://bit.ly/ZdAe7N - View all 1 replies
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Sebanightwish: Mason clearly failed to make his company profitable and paid with the loss of his job.
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Sebanightwish: This is good news, provided replace who is able to make the company profitable