Pandora's Audience Shrinks, Market Share Increases
Oakland, Calif.-based Pandora Media continues to gain market share.
On Tuesday, Pandora announced its latest audience metrics for the month of October. Total listener hours in October were up 18% year over year to 1.47 billion hours, which was equivalent to last month's gain. The number of people listening also increased against the year-ago tally. Active listeners totaled 70.9 million at month-end, 20% more than at this time, last year.
According to Pandora's calculations, this all works out to Pandora controlling an 8.06% market share of the total U.S. radio listening audience -- a 145-basis point increase over Pandora's market share from October 2012, and 29-b.p. increase from last month. That being said, Pandora's 70.9 million listeners in October were fewer than the 72.7 million listeners who tuned in in September.
The article Pandora's Audience Shrinks, Market Share Increases originally appeared on Fool.com.
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