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Pandora is trying to reinvent itself as more than free internet radio. But subscriptions come with a price.
Pandora has been losing users with each earnings report, at 73.7 million active listeners this quarter compared to 78.1 million this time two years ago.
Pandora Q3 Users:
2015: 78.1M
2016: 77.9M
2017: 73.7M— Lucas Shaw (@Lucas_Shaw) November 2, 2017
The 4.4 million dropoff in users comes as Pandora tries to make itself a player in the on-demand music streaming wars, up against Spotify, Apple Music, and the rest.
This quarter, Pandora touted that its total paid subscribers were up 29 percent year-over-year to 5.19 million. For comparison, Spotify has 60 million subscribers and Apple Music has about 30 million. Pandora’s subscriptions brought in $84.4 million in revenue. Read more…
More about Music, Spotify, Pandora, Music Streaming, and Business
Music streaming business Pandora reported earnings after the bell on Thursday. Adjusted earnings per share were negative six cents, better than the negative eight cents that Yahoo Finance analysts were predicting. Revenue was $378.6 million, an 8% year-over-year increase from last year. Yet it’s beneath the $380.57 million that analysts were expecting. Shares quickly dipped nearly 6%… 
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’s the first time Pandora has held that position since the third quarter of 2015.