In the 4th quarter of 2023, Pandora had over 46 million monthly active users in the United States. The online radio platform has been suffering gradual user losses each quarter for some time, and has lost more than ten million U.S. users in the last two years.
Pandora business model
Pandora Internet Radio is a part of the Music Genome Project that provides a music streaming service as well as music recommendations. The Music Genome Project uses 450 attributes to describe a song and an algorithm that organizes a wide range of music. Currently, Pandora is only available to users in the United States, Australia, and New Zealand.
Since its launch in January 2000, Pandora Internet Radio has vastly increased its number of active users. As of December 31, 2016, Pandora boasted 81 million active users. In comparison, Spotify hit the 100 million user mark in June 2016, although this streaming service is also available in most of Europe and South America, parts of Australasia, and various other countries in the world.
Pandora's financial results
In recent years, as Pandora has become more successful, the company’s revenue has reflected its broadening market. In the financial year 2022, Pandora’s revenue totaled 2.09 billion U.S. dollars, a figure which has risen significantly compared to just two years prior. Pandora currently obtains most of its revenue through advertisement, subscriptions, and directing users to purchase music through Apple and Amazon. In 2022, the company's advertising revenue exceeded 1.5 billion U.S. dollars.
Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023
(in millions)
On February 1, 2019, Pandora was acquired by Sirius XM Holdings.
Active users are defined as the number of distinct registered users that have requested audio from Pandora's servers within the trailing 30 days to the end of the final calendar month of the period. The number of active users may overstate the number of unique individuals who actively use the service within a month as one individual may register for, and use, multiple accounts. Figures for 2009 to 2016 come from a earlier financial releases.
Until January 2013, Pandora's fiscal year started in February and ended in January of the following year. Starting with January 2014, Pandora's fiscal year will start on January 1 and end on December 31 of the same year. The period between February 1, 2013 and December 31, 2013 is a transition period.
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Sirius XM Radio. (February 2, 2024). Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023 (in millions) [Graph]. In Statista. Retrieved October 06, 2024, from https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/
Sirius XM Radio. "Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023 (in millions)." Chart. February 2, 2024. Statista. Accessed October 06, 2024. https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/
Sirius XM Radio. (2024). Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023 (in millions). Statista. Statista Inc.. Accessed: October 06, 2024. https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/
Sirius XM Radio. "Number of Pandora's Monthly Active Users in The United States from The 4th Quarter of 2013 to The 4th Quarter of 2023 (in Millions)." Statista, Statista Inc., 2 Feb 2024, https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/
Sirius XM Radio, Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023 (in millions) Statista, https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/ (last visited October 06, 2024)
Number of Pandora's monthly active users in the United States from the 4th quarter of 2013 to the 4th quarter of 2023 (in millions) [Graph], Sirius XM Radio, February 2, 2024. [Online]. Available: https://www.statista.com/statistics/190989/active-users-of-music-streaming-service-pandora-since-2009/