It was also a choppy day for Pandora on Wall Street, as investors reacted negatively to the company’s latest financial results. This, despite the personal radio firm reporting a net profit of just under $9m for the final quarter of 2013, based on revenues of $200.4m for the quarter – the latter up 52.4% year-on-year. Pandora’s content acquisition costs of $93.7m were 46.8% of its overall revenues compared to 54.6% a year before, which is an encouraging downward trend for the company. “2013 marked notable growth from user metrics to financial achievements,” said CEO Brian McAndrews. “To fully capture the substantial market opportunity ahead of us, we will continue to aggressively invest in 2014 in sustained audience and engagement growth as well as activities that further accelerate monetisation.” But the company’s prediction of a loss in Q1 this year saw its share price fall 8.7% in after-hours trading. Alongside the results, Pandora released its latest listener metrics for January 2014. Last month, it attracted 73.4m active listeners who generated 1.58bn listener hours – up 12% and 13% year-on-year respectively, but down 3.7% and flat respectively compared to December. CFO Mike Herring admitted to analysts that Apple’s iTunes Radio has had a “modest impact” on Pandora since its launch, too.
Tools: platforms to help you reach new audiences
Tools: Kaiber
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