…a decline of more than 7 million listeners from the 81 million it had in the same quarter a year ago
It looks like Pandora is losing steam. I am currently a Spotify subscriber, and I have been for a number of years now. Spotify seems to be doing quite well, even above Apple, with regard to subscribers. I am not sure that Pandora can recover from a hit like this. It is clear that music-lovers are not getting what they are looking for with one of the pioneers of streaming music.
What I also found interesting about this article is the number of subscribers, like myself, who are paying for ad-free music. Spotify for the family is only $14.99/mo and allows for 4 or 5 users to stream music on the same bill, but maintain separate accounts. They have clearly figured out the best way to deliver this service to their end users.
Pandora has been losing ad revenue which could be disastrous for their long-term prospects. People are pulling out on this stock and we saw a recent decline in the stock price of almost 25%. That is a big loss and a big blow to this streaming service. What do you think Pandora needs to do to turn this ship around? Is it too late for Pandora? I want to hear your opinions.