Posts Tagged ‘quarterly profits’

Pandora Keeps Chugging Along…

Monday, February 22nd, 2010


Blu-Ray devices! Table top radios! Ford partnerships!

Just a bit of the excitement buzzing around the corridors of streaming online-radio service Pandora in 2010. Pandora, now ten years old, churned out its first profitable quarter EVER in December of 2009 – with revenues of $50 million. And get this – $30 million of that stack of cash went to artists in the form of royalties! The service is 40 million-subscribers strong, and is seeing 35,000 new iPhone subscribers daily (250,000 on Christmas day 2009 ALONE). Online music services all over the net struggle to stay afloat due to advertising, lack of user-loyalty, and an overall lack of ability to keep labels happy with royalties. What are they doing different? CNNMoney reports just what is keeping Pandora alive, and why the music industry is choosing to embrace it over so many “On-Demand” digital music servers.