It was a $7 million decline in ad revenue for Pandora in Q2. Advertising revenue in April, May and June was $271 million compared to $278 million a year earlier. For the first six months of the year, advertising revenue is down $15 million, from $501.5 million in 2017 to $485.6 million this year. With subscription revenue up significantly, Pandora was still able to overcome the ad revenue decline and the loss of revenue ($29.7 million in 2017) from Ticketfly, which is sold. The increase in total revenue for the quarter was 12%, from $376.8 million to $385 million.
CEO Roger Lynch said, “We made continued progress against our strategy with total revenue growing 12%, subscription revenue up 67%, and ad hour trends improving for the third straight quarter. New partnerships with top brands like Snap and AT&T, as well as enhancements to our ad tech and programmatic offerings, position us to further accelerate growth and ownership of the expanding digital audio marketplace.”
Pandora lost $92 million in the quarter, compared to a net loss of $275.1 million a year earlier.