{"id":50509,"date":"2017-11-04T05:13:05","date_gmt":"2017-11-04T05:13:05","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=50509"},"modified":"2017-11-04T05:13:05","modified_gmt":"2017-11-04T05:13:05","slug":"pandora-made-80m-in-u-s-app-store-revenue-in-q3","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/internet\/pandora-made-80m-in-u-s-app-store-revenue-in-q3.html","title":{"rendered":"Pandora made $80M in U.S. app store revenue in Q3"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Pandora made $80M in U.S. app store revenue in Q3<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pandora made $80M in U.S. app store revenue in Q3:- In the face of fierce competition from Spotify and Apple Music, Pandora has been growing its in-app subscription revenues, according to new data from Sensor Tower. The streaming music service earned the number one spot on the chart of top grossing apps in Q3 2017, excluding games. It\u2019s the first time Pandora has held that position since the third quarter of 2015.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Fueling the music app\u2019s rise was this year\u2019s launch of its Premium tier, which arrived in March in invite-only mode before becoming broadly available to users in April.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pandora Premium is the company\u2019s own take on on-demand music, offering a combination of the radio-like listening Pandora is known for, along with the ability to search out and play tracks on demand and add them to playlists. The service costs $9.99 per month, which is also the going rate for Pandora\u2019s rivals, Spotify and Apple Music.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">In addition, Pandora offers a mid-tier service called Pandora Plus, which debuted in fall 2016. For $4.99 per month, users can skip and replay more songs, listen offline, and avoid advertising.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pandora achieved its ranking as the number one app by revenue in the U.S. in Q3 by grossing $80 million during the quarter.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">That pushed it ahead of Netflix, which has held the top ranking on this chart for several quarters. However, Netflix was still the number one app by revenue globally (again, excluding games) in Q3.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pandora\u2019s $80 million figure also represents 142 percent revenue growth over the same quarter last year, when Pandora\u2019s estimated gross revenue was $35 million.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">To be clear, Sensor Tower\u2019s look into app store revenue is only includes in-app spending, which doesn\u2019t paint a picture of Pandora\u2019s business as a whole. In addition to subscriptions, which can also be bought on the web, Pandora has a free tier powered by ads. That business grew its revenue 5 percent year-over-year as of Pandora\u2019s last earnings, while subscription revenue was then up by 25 percent.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pandora\u2019s earnings reported in July were better than expected, following a quarter that saw a lot of chaos, including the exit of CEO Tim Westergren amid a company shakeup, and the infusion of $480 million from SiriusXM, after Pandora stopped shopping for a buyer.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The company is set to announce earnings today, with new CEO Roger Lynch delving into his plan for Pandora going forward. This may include a stronger focus on Pandora\u2019s radio business, Barron\u2019s reported in an earnings preview.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Analysts are expecting that Pandora lost 8 cents per share in the past quarter on revenue of $380 million, it also said.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The growth in non-game app revenue is not a trend that\u2019s unique to Pandora. Sensor Tower also found that worldwide consumer spend in non-gaming apps increased from approximately $1.7 billion during Q3 2016 across both Google Play and the iOS App Store, to reach $2.8 billion in Q3 2017.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">App Annie had also previously reported record app revenue globally. Its total, which includes games, was nearly $17 billion.<\/span><\/p>\n<p><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt\">Source:-\u00a0https:\/\/techcrunch.com\/2017\/11\/02\/pandora-made-80m-in-u-s-app-store-revenue-in-q3-booting-netflix-from-the-top-grossing-spot\/<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/internet\/pandora-made-80m-in-u-s-app-store-revenue-in-q3.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Pandora made $80M in U.S. app store revenue in Q3 Pandora made $80M in U.S. app store revenue in Q3:- In the face of fierce competition from Spotify and Apple Music, Pandora has been growing its in-app subscription revenues, according to new data from Sensor Tower. The streaming music service [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":50515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973],"tags":[92454,92453,92457,92456,92455,92458,92452],"class_list":["post-50509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-chart-for-several-quarters","tag-grossing-apps-in-q3-2017","tag-non-game-app-revenue","tag-pandoras-business","tag-pandoras-earnings-reported","tag-pandoras-estimated-gross-revenue","tag-spotify-and-apple-music"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/50509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=50509"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/50509\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/50515"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=50509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=50509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=50509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}