Mobile continues to drive Pandora’s ad business.
Mobile ad revenues for its fiscal third quarter were $66 million, up from an estimated $53 million a quarter prior. Mobile accounted for 62 per cent of total ad revenues, compared to 59 per cent in the second quarter.
Overall mobile revenues, including subscriptions, increased $15 million in the quarter to $74 million.
Pandora is a prime example of how mobile is transforming what were once Web-based companies. With 77 per cent of usage now coming from mobile— not to mention a majority of revenues— Pandora is essentially a mobile company.