Written by: Roshan Dwivedi
Audio streaming platform Pandora has registered $417.6 million in its Q3 earnings as a result of catapulting business of its paid products such as Pandora Plus and Pandora Premium. The two paid products have brought in $125.8 million in Q3 – a 49% increase year-over-year. However, the American music streaming service’s primary user base is from its ad-supported free tier of which revenue growth is slow in comparison despite the mid-year acquisition of AdsWizz.
Pandora has added 784,000 subscribers under its belt in Q3 which is way less than its counterparts such as Spotify (87 million) and Apple Music (50 million). Reports also claim that Pandora’s active users reached 68.8 million by the end of Q3 with total listener hours of 4.81 billion.