US satellite radio firm SiriusXM has published its financial results for the third quarter, including the latest figures for its music-streaming service Pandora.
The latter’s advertising revenues grew by 1% year-on-year to $407m – no mean feat given the current economic climate – but its listener total is still sliding. Pandora had 48.8 million monthly active users in Q3 this year, down 7% from the 52.6 million it had in Q3 2021.
It’s also a very long way down from the 81.5 million it had at the end of 2014, in its heyday. Since then, Pandora has lost 40% of its monthly audience.
SiriusXM’s financials also revealed that the service’s number of self-pay subscribers remained flat at 6.3 million. As for the parent company, it continues to grow both its revenues (up 5% year-on-year to $1.7bn) and its self-pay subscribers (32.2 million, although only 187,000 were added during the third quarter).