Ad RPM hit an all-time Q1 high of $55.52, growing 9% year-over-year
Total subscribers were 5.63 million, growing 19% year-over-year
Q1 Revenue and Adjusted EBITDA significantly exceeded our forecast
Announced acquisition of AdsWizz, creating the largest digital audio advertising ecosystem globally
OAKLAND, Calif. - May 3, 2018 - Pandora (NYSE: P) today announced financial results for the first quarter ended March 31, 2018.
“Music streaming and digital audio continue to see massive growth, and this quarter we took key steps to position Pandora to capture this significant opportunity,” said Roger Lynch, CEO of Pandora. “We improved audience metrics—in part by increasing usage of Premium Access, which gives ad-supported listeners the ability to enjoy Pandora Premium after viewing a 15-second ad. We also accelerated our ad-tech roadmap with the acquisition of AdsWizz, and launched exciting new product features like personalized playlists. Looking ahead, Pandora is exactly where we want to be: at the center of a growing market with huge potential.”
First Quarter 2018 Financial Results & Highlights
Revenue: For the first quarter of 2018, total consolidated revenue was $319.2 million, an approximate 12% year-over-year increase compared to the year-ago quarter, excluding Australia, New Zealand and Ticketfly. This included $214.6 million in advertising revenue and $104.7 million in subscription revenue. We discontinued our service in Australia and New Zealand on July 31, 2017, and Ticketfly was sold to Eventbrite on September 1, 2017.
GAAP Net Loss and Adjusted EBITDA: For the first quarter of 2018, GAAP net loss was $131.7 million compared to a net loss of $132.3 million in the same quarter last year. Adjusted EBITDA was a loss of $73.3 million, compared to a loss of $71.3 million in the same quarter last year.
Cash and Investments: For the first quarter of 2018, the Company ended with $544.4 million in cash and investments, compared to $500.8 million at the end of the prior quarter.
The following information was filed by Pandora Media, Inc. (P) on Thursday, May 3, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Pandora Media, Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed, and by Pandora Media, Inc..
Ticker: P CIK: 1230276 Form Type:10-Q Quarterly Report Accession Number: 0001230276-18-000031 Submitted to the SEC: Thu May 03 2018 6:06:53 PM EST Accepted by the SEC: Fri May 04 2018 Period: Saturday, March 31, 2018 Industry: Radio Broadcasting Stations