Personal radio service Pandora released its latest quarterly financial results last night, with revenues up 50% year-on-year to $180.4m in Q3. The company posted a net loss of $1.7m for the quarter, compared to a net profit of $2.1m in Q3 2012. Listener hours were up 17% to 4.18bn, although the company’s new CEO Brian McAndrews admitted that a 2.6% decline in active listeners between September and October was probably due to “Pandora’s most casual and we engaged listeners experimenting with other services, most likely iTunes Radio… Since then, we have seen active listeners stabilise and begin to return to growth at the end of October.” Mobile loomed large, as ever: Pandora’s mobile advertising revenues beat $100m for the first time – $104.9m to be specific – with 80% of Pandora listening still happening on mobile and connected devices. Meanwhile, Pandora now has 3.18m paying subscribers who generated $37.2m of revenue in Q3. Oh, and licensing costs were 48% of Pandora’s revenues, down from 54% this time last year.
Tools: platforms to help you reach new audiences
Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…