Pandora, the music service that allows personalized radio stations, has released its Q4 revenue earnings report, and it was lower than estimates. CEO Joe Kennedy has said that holiday ad spending was “a touch lighter than we expected”. Investors are worried that the company will be unable to sustain growth within iOS and Android devices.
Although this is so, Kennedy went on to explain that investors shouldn’t be worried. Mobile revenue was up from $25 million to $100 million, and Pandora is the only company besides Google to make money on mobile ads. He also said that Pandora’s market share of the “radio listening market” doubled last year to 5.5%.
Source: All Things Digital