Pandora is enjoying its better than expected growth with more than 23% which is the biggest growth in its track records.
Roger Lynch, the CEO of Pandora states that, “Pandora is exactly where we want to be: at the center of a growing market with huge potential. We know that as you increase ad load, you decrease the number of listeners you have. Figuring out how to get the right balance is quite important. Pandora didn’t get the balance right early last year.”
Lynch also asserted that, “With people who use Premium Access, there are a couple of things we can see, one is that their overall use of Pandora increases, and their propensity to upgrade to our premium subscription service increases.” The company gained back its listeners, particularly under age of 25, and investors. Naveen Chopra, the CFO of Pandora Media told the investors that “We are still in the early stages of our turnaround.”
Pandora holds around 5.63 million paid subscribers. There is a significant growth of 63% in subscriber revenue of $104.7 million. The company closed its stock at $5.75 with current market cap of $1.45 billion. Pandora has approximately 72.3 million active listeners, to whom they serve the ads and earns huge revenue which is more than the expected
In 2021, Global Economic Growth was 5.5%. But the latest UN Report predicts only 4% Global Economic Growth in 2022,...Read more