An interesting revelation surfaced during Pandora’s recent announcement of their financial results for the second quarter of fiscal 2012.
The leading internet music service saw fiscal second-quarter revenues of $67 million, which comes in at a 117% year-over-year spike.
Pandora says that mobile advertising now generates half of its total ad revenues. In fact, according to industry estimates, Pandora now garners more ad revenue per 1000 hours than even traditional broadcast radio.
“Pandora is personalizing radio – and consumers are enthusiastically embracing the dramatically better experience,” says Joe Kennedy, President & CEO of Pandora.
“At the same time, advertisers continue their adoption of Pandora’s multi-platform ad solutions, resulting in our 6th consecutive quarter of year-over-year triple digit revenue growth,” Kennedy added. In addition to continued high growth in web revenue, Pandora’s mobile advertising revenue for the first time comprised approximately half of total advertising revenue as we lead the way in the nascent but fast growing mobile advertising market. Pandora continues to grow our market share of U.S. radio as we fundamentally transform one of the last forms of traditional media.”