The streaming pure-play took in $319.2 million in revenue in Q1 of 2018, a 12% increase over Q1 of 2017. Advertising revenue in Q1 was $214.6. Subscription revenue was $104.7 million. That’s 63% higher than Q1 of 2017. Pandora now has 5.63 million subscribers paying for the service, 19% higher than Q1 of 2017. Furthermore, 140,000 net subscribers were added in Q1.
On the advertising side, the company said it did very well with sponsored listening and video. CEO Roger Lynch said local advertising was pretty flat. “Where we see an opportunity is around self-serve. There’s a lot of small advertisers that buy Google and Facebook and we don’t have that opportunity yet because of our tools.” Lynch says AdsWizz, which the company recently purchased, will help Pandora work with smaller advertisers and will help Pandora tap into the $28 billion global radio market.
