Fortune Magazine and The New York Times say yes. And Fortune goes so far as to say, "The money-losing music service has put itself on the block," and calls it nothing more than a fire sale. The Times reports Pandora has taken the step to hire Morgan Stanley to shop the company around. Fortune says that with Pandora losing about $10 million every month, "it’s difficult to see who would see such a deal as attractive."
CEO Brian McAndrews says Pandora will achieve that goal within five years. In 2015, Pandora took in $1.164 billion in revenue. Here's the plan McAndrews laid out which gives him the confidence his company can hit that $4 billion number by 2021.
The streaming pure-play ended the fourth quarter of 2015 with revenue of $336.2 million. Excluding revenue from ticketing services, revenue was $326.0 million, an increase of 22% compared to $268 million in total revenue for the same quarter last year. Advertising revenue increased 22% in the fourth quarter of 2015 to $269.0 million, compared to $220.1 million in 2014.
It's a number they've never really been able to prove, or that any analyst covering the company has ever challenged them on, but Pandora now claims to be "at an all-time high of more than 10% share of U.S. radio listening."
Nielsen announced that Q4 2015 revenue was $1.6 billion down 0.6%. The company said the decline was due to the impact of foreign exchange, and was up 5.6% on a constant currency basis, compared to Q4 2014. It was Nielsen's 38th consecutive quarter of constant currency revenue growth. Revenue was $6.17 billion for the year, down 1.8% again due to the impact of foreign exchange. It was up 5.% on a constant currency basis, compared to 2014. Nielsen's audio division (which includes radio) decreased 6.9%. That decrease was blamed on the impact "of delivery timing," which most likely means when contracts for ratings are signed.
The City of Royal Oak, Michigan and the Royal Oak School Board have approved the renaming of a section of Willis Ave in Royal Oak to Glenn Frey Drive to honor Frey, who grew up in that city. Greater Media's WCSX-FM found a stretch of Willis Ave that can be renamed Glenn Frey Drive. On Thursday, the vote was passed.
Red Zebra Broadcasting announced Thursday that it has hired Chris Johnson as Program Director for ESPN 980. Johnson will start his position on Monday, Feb. 15. Johnson brings nearly three decades of broadcast experience to ESPN 980.
Those are the words of Entercom CEO David Field as he looks out at the lay of the land for 2016 and states "our business is off to a great start." And, perhaps it's the start of the revenue tide turning for radio as Field was as optimistic as a public radio company CEO has sounded in quite some time. Field ticked off the reasons why things are going well at Entercom
Mark Levin will continue his talk show with Westwood One through 2025. Levin said, “I could not be more pleased to extend my radio partnership with Cumulus/Westwood One -- for the next nine years -- an unprecedented long-term relationship in the broadcasting industry."
Sean Baligian, Tom Mazawey, and Marc Fellhauer will move from their noon to 3 p.m. slot to mornings on the Greater Media Detroit sports station, replacing ESPN's Mike & Mike. The new lineup on the station following mornings is: 10 a.m.-2p.m. Ryan & Rico and 2 p.m.-6 p.m. Matt Dery & Drew Sharp.