US satellite radio firm SiriusXM has reported its Q3 financials this week, including those of its music-streaming subsidiary Pandora.
Overall, the company saw its revenues grow by 9% year-on-year to $2.2bn, aided by adding a record 616,000 net new self-pay subscribers to its satellite radio service during the last quarter.
As for Pandora, it hasn’t yet turned around its decline in listeners: it had 52.6 million monthly active users in Q3, down from 55.1 million in Q2, and 58.6 million a year ago. Pandora also saw a slight decline in its paid subscribers, with 59,000 churning off the service in Q3.
However, it’s doing a good job of increasing its advertising revenues: they were up 32% year-on-year to $404m, buoyed by its AdsWizz business (which sells ads on other services too) and its acquisition of podcasting firm Stitcher at the end of 2020.
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