Pandora saw its revenue for Q2 increase by 30% to $285.6m year on year but its listener growth has slowed down in that period. On top of that, its net loss stood at $16.1m, up from $11.7m in Q2 2014. Listener growth was just 3.9% in the period, with it gaining 3m new listeners since June 2014, bringing its active listener base to 79.4m. Against this, however, total listener hours grew 5.2% to 5.3bn.
Ad revenue, the bulk of its income, in the period was $230.9m (equal to a 30% uptick). RPM (revenue per thousand impressions) grew from $43.41 to $53.91 while advertising RPM jumped to $49.94 from $40.11, suggesting that the company was able to squeeze more revenue per user even if listener growth is starting to stall. This all comes off the back off a ruling in May where, following a protracted court battle, Pandora was ordered to pay 2.5% of its revenues to BMI, an increase from the 1.75% it was previously paying. Despite all this, the company has been looking to expand, having acquired analytics company New Big Sound two months ago for an undisclosed sum.
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